These OPEC + guys know EXACTLY what they're doing. They know what debt does to a marginally profitable resource play and what the lack of capital does to the US shale oil sectors ability to borrow more money in the future. I don't think they're going to let the US shale oil business up off the floor this time. OPEC + have been hammered the past eight years by America's money printing empire, how it funded shale oil and took away market share. They seem kinda pissed to me. And determined.
As my uncle use to say, if its not bed bugs its piss ants. US shale oil overproduces and drives the price down; OPEC gets angry and drives it down further. The rest of America's domestic oil industry is caught in the cross fire.
Please see OSB's Chart Of the Week.