You think U.S. exports are going to fall zero because Russia and Saudi Arabia are in a tiff?
Maybe exagerration...I believe ‘a tiff’ is a dog and pony show. OPEC+ cuts are partially the reason why US exports to their traditional markets. US exporters are filling the void. Do you think US exporters would be solvent under $30 per barrel?
Not to mention Russia has little mechanisms to enforce cuts. Most of its exports are by private company who might obey the cuts or might ignore.
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Oil is trading right now at $29 per barrel.
This is a disaster for the whole shale industry if it continues very long.
There will be notable bankruptcies very soon, such as Chesapeake Energy Corp. (CHK), circling the drain.
It's a shame to have the U.S. energy sector wrecked this way, possibly taking the wonderful economy with it as well as giving RATs an opening for 2020.
POTUS needs to get on the phone with his buddies, Putin and Mohammad bin Salman, and tell them to get their $h*t together.
I'm pretty sure the whole Russian economy is toast at these prices, so maybe they'll see it the Saudis' way.