Don't think engine oils prevent rust? Go to a junk yard, find an engine, ANY engine even one out of the vehicle and lying on the ground. Remove the crankcase oil pan. Remove a connecting rod cap and a main cap. Look at the highly polished crankshaft journals. How much rust do you see? Assuming it hasn't rained directly into the crankcase (with water standing inside) you will not see any rust because the journals are protected by run of the mill engine oil.
I have been in junkyards, and been amazed when I have pulled intake manifolds and found little or no rust. Or lifted the oil pan and everything looks good.
An oil coating, even an oil without additives, will provide better rust protection than an unprotected surface.
However, that does not mean motor oils are made with any consideration of rust protection.
It is unfortunate that you have to pay to see the SAE oil standard specs, SAE Standard Report J183, or the associated ASTM standards.
The military standard for oil is very incomplete, but it follows industry standards. You can look at Mil-PFR-2104 (better look at the older Mil-L-2104) at DoDiss. You can look at the test conditions and you won't see a rust test. You will see lots of other tests, but you won't see rust protection.
http://assist.daps.dla.mil/quicksearch/basic_profile.cfm?ident_number=3148