Saudi Arabia is doing this to get the other members to cut there out put..
The Saudis need the money..from higher prices..
Russia just told the Saudis they were done with quotas. Our fracking is flooding the world with oil and gas.
Russia is hoping by killing the price of oil, fracking will hit a all in the US. They’re not happy at Trump hassling Merkel about their new pipeline.
What Russia may have not taken into consideration is the wet gases that are stripped from the natural gas leaving the methane for home heating, cooking, etc. The wet gases include propane, butane and ethane etc.
That’s where the money is. Shell is about to start operating an enormous cracker near Pittsburgh to convert ethane into plastic pellets. There’s still money to be made no matter how far down oil prices drop.