Oil prices are now at a 2 year low. The article goes on to talk about a warm winter, increased supply, etc.
And it mentions in passing Saudi Arabia's decision to not reduce supply which will cause the price to continue to decline. But it doesn't dive in to why the Saudi's won't cut production.
Here's what I think may be going on.
Who do lower prices hurt? The oil producing countries. But some are hurt more than others.
Iran and Iraq are selling every barrel they can produce. They cannot increase production. So a 20% drop in oil prices is a 20% drop in national income for them. (For Venezula and others too but I don't think Saudi Arabia cares either way about those others.)
Now Saudi Arabia also faces the same cuts. But Saudi Arabia is pretty stable and has a lot of investments. And they are not over committed financially. A drop in income is inconvient to the Saudis.
But for Iran and Iraq it is deadly. In Iran it is oil wealth that has been used to buy off the opposition and to spread trouble in Iraq, Lebanon, etc. In Iraq it funds the entire government which is barely not functioning.
Lower prices are deadly for the Shiite governments in the Middle east. Politically it is the easiest way to eliminate the Shiite threat. It is also the cheapest way to do so.
My guess is Saudi Arabia would be thrilled to see oil drop to $40/barrel. At that point Iran and Iraq will have gigantic budget deficits and both will have so many internal problems that they will not be a threat to the Sunni world.