The Saudis launched a price war just as the coronavirus struck and ramped up production to try and squeeze Russia and/or American shale producers (depending on

The Saudis launched a price war just as the coronavirus struck and ramped up production to try and squeeze Russia and/or American shale producers (depending on who you ask). Like most people, they had no idea how hard the virus was going to tank demand and so we ended up with a huge oversupply. Supposedly Trump brokered a deal to get everyone to cut production, but that doesn’t kick in until May 1st.