Yes, you are absolutely correct. But it will be just a few more weeks not months...I refer to this quote below...
03/30/2020:
In other words, with most of US WTI production landlocked, while Russia and Saudi Arabia all within easy access to seaborne transit, Putin and MBS are at this very moment sharing a big toast via Zoom, and laughing at the wasteland that US shale will be in just a few weeks.
Oil wars, page-5
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