[billyboy15]

How will this help the Saudi’s? If they cut supplies and prices rise (as they will) this makes fracking again profitable and the supplies will again increase driving down the prices.

The technology of fracking is with us forever and can and will only get more efficient thereby the cost of obtaining the oil.

Barring some world wide catastrophic event we will never again see $100 bbl oil.

[Vince Ferrer]

China is in recession, Europe isn't doing well, and there is innovation on the demand side like more efficient cars, self driving cars, road trains, ride sharing services, and electric cars that exist or are about to become reality in the marketplace. The demand for oil is near its peak, at least in the US. Cutting production will become necessary in an era of declining demand, and it won't create the same kind of price spike that a cut in the 1970s did.