initially folks think the US and Saudi colluded to ...

keep the oil price low to hurt Russia as a retaliation for invading Ukraine. now it is clear to me Saudi just wants to hit all high price producers to increase market share.  

if price stays this low for a couple of years, it will hurt Russia a lot and might cause geopolitical instability. US shale production and Canandian sand oil will suffer tremendously. but for US as a whole it is probably net positive. 

credit bond market might have some short term turmoils as some energy companies default on their debts. but eventuall low oil price will trickle down to people's wallet.