Bad news for the Saudi's strategy
https://oilprice.com/Latest-Energy-News/World-News/Oil-And-Gas-Creditors-Recover-1-Of-Every-5-On-Defaulted-Debt.html
The strategy of the Saudi's to kill shale growth depends on debt staying on the books of producers for a very long time. The more debt that gets erased by being written off by lenders, the more able strong players in the USA are to pick up shale assets for pennies on the dollar. The more the strong players are able to accumulate, the faster shale can ramp up if oil prices increase.
The Saudi's are at risk is completely undoing their strategy the longer they keep prices down. Technology keeps evolving and improving, the only thing in the long run that can keep shale down in the USA is the debt overhang, and now, more and more of that debt is disappearing into thin air.