Saudi Arabia War against U.S. Shale

Saudi Arabia has ramped up the war on U.S. shale production with the March exports reaching their highest level in 12 years. Production is also at record level, 10.29 million barrels per day in March.  Saudi Arabia exported the equivalent of 7.89 million barrels a day in March, up over a half million barrels from February and 10% higher than in 2014. The increases in production and exports by Saudi Arabia and OPEC reflect their intention to "cripple the US shale gas industry by flooding the market with oil and driving down prices."