This validates both Saudi Arabia and Mexico's plans to divest their national oil monopolies. Cheap oil is hear to stay, and countries that use their oil to bribe their citizens with welfare (Venezuela) rather than produce the oil as efficiently as possible will lose out.
Oil price stability is likely to remain, that is, until our enemies in Iran use their missiles in Yemen and Eritrea to attack the sealanes. Such an attack happened in the past week or so.