Is it just the Saudis that have caused this oil price tumble due to their increasing quantity they deliver? Or did they just moved a little which kick us over some tipping point?
Layoffs and downturns are the way of life more magnified in the Oil Patch, due in no small part to slow response when energy tipping points are inevitably reached.
Saudi's have not increased their oil production. The increase in supply is from the US and some from Canada. No others are significant increases.