I keep reading and hearing that the Saudis are intentionally "lowering" the price of oil to crush the US shale companies.
Please refer to the chart below.
When you bring that much product online, what do you think is going to happen to the price?
No, the Saudis are not intentionally going after the US companies. Will they benefit if US shale companies go under? Sure. Are they enjoying this? I would imagine they have mixed opinions, as do the Russians.