[christophilus]

This is the answer. They think they can send US shale into bankruptcy before they go bankrupt themselves.

[look_lookatme]

But when the cost recovers we'll be back at it again. US shale has seen booms and busts for a hundred years.

[_0w8t]

Saudi Arabia oil is the cheapest in the world. They have massive oil fields. So in principle they can bankrupt anybody unless somebody can come up with a cheaper way to get oil.

[warlog]

Whipsaw mkts will eventually make it impossible for credit to be extended to allow these low ROIs to operate.

Welcome to post-peak oil pricing dynamics.

[aww_dang]

Half expecting some form of a bailout for shale producers if it comes to that.