Actually its more a war, at the moment, not with major produces that can sustain a price slump for awhile, but with smaller producers - Nigeria, Columbia and others - who have been losing U.S. domestic market share and started marketing to some of the Saudi’s big customers in Asia. The Saudis are trying to put the small producers out of business, more than trying to hurt, for very long, large producers.
Columbia? Really? I didn’t even know they produced oil.