This is unchartered waters. There could be so much over supply that you have to pay someone to take your oil?? What can our industry do to survive in that situation (trolls will say layoff everyone, all are deadwood, i have all cash who cares...) but really, what will happen? One is I hope buybacks are outlawed as we could use the money spent In buybacks right now.
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It's UNCHARTED
I saw a news article mention the possibility of the US having an embargo against importing Russian and Saudi oil to stabilize our markets while they have their price war.
It seemed like purely speculation though. That said, our international branches at Chevron would still be dealing with those low oil prices, but if we actually regain positive cash flow in North America, that would be easier to mitigate.
I hope that someone in the price war just blinks and backs off, but both Russia and Saudi seem as stubborn as ever despite this seemibgly decimating both of their economies...