How Saudi Arabia Delivered A Blow to U.S. Shale Companies At The Worst Possible Moment

(Bloomberg) -- Subscribe to Odd Lots (Spotify) 
Subscribe to Odd Lots (Apple Podcasts)

Every week, hosts Joe Weisenthal and Tracy Alloway take you on a not-so-random walk through hot topics in markets, finance, and economics.

Saudi Arabia recently announced that it was engaging in a full-on price war by pumping oil like crazy. At one point, after the move, the price of Brent Crude plunged 31%. This was a body blow to U.S. shale companies, who are already reeling from falling prices and tightening credit markets. On this week's episode of Odd Lots, we speak with Buddy Clark, a Houston lawyer at the offices of Haynes and Boone about why this came at the worst possible time for the industry, and what could happen next.

©2020 Bloomberg L.P.