ROW is slowing. US cannot export majority of the oil due to regulations so over supply plus slowing demand = price decline.
It is not the US export bans driving the problem. If that were so the oil outside the US would be rising in price relative to within the US. That is not the case.
Actually, due to the export ban, it limits even more exploration for fear of not making sufficient return on investment as we approach the refining limits of light, sweet oil. Without the ban, we would like be chasing more production and driving the price down even farther.
I do not say that to support keeping the ban, it should be removed. The Feds should not dictate to whom oil owners are allowed to sell their product. There might be an initial short term dip in price with the removal, but the industry and the US would benefit in the long run.