To be honest, I didn’t think they had it in ‘em. I really thought they had joined the rest of the crew bent on shooting themselves in the feet. The Saudi oil guys have got a very finely-tuned sense of self interest. I wonder what's really afoot there.... perhaps a bit of quiet pressure from Western governments? Or, perhaps, bribes?
Or perhaps they want the price to go down for a different reason: it limits Iran's income, and Iran has a definite interest in destabilizing the Saudi government. (For that matter, so might Chavez....)
At any rate, I don't think we can take any action of theirs at face value.
If only the rest of the world could be as simpleminded as I am. I'm the female counterpart of Ozark Ike. What you see is what you get. I find it illogical when others dissemble (seems such a waste of time and energy). I never suspect the “dark side” until I'm broadsided, flat on my back looking skyward. ;-)
Or perhaps the Saudi’s remember how badly they were hurt after the oil crises from the 1970s...