Yes, that's how all of this works. To make matters even more complicated, there are synthetic 15W and 20W-XX oils that pump more easily at -50ºF than some 5W-30 oils.
Even among 'high tech' oils, there are some lower viscosity AN based oils that won't pour or pump below about -30ºF and some PAO based higher viscosity oils that will pour at -44ºF or even lower.