A week ago I wrote my story “The falling oil price may presage a future recession”. Along the same lines Gaurav Sharma has contributed a story on Forbes with the title “Saudis Vs Oil Markets: Who’s Playing Whom?” I like to high light these part of his story:
“While the world was focused on Brent and WTI price dips, the OPEC Reference Basket of twelve crude oils from its member countries slipped from $89.37 on 7 October (just days after the Saudi move) to $81.67 per barrel on 23 October. Popular discourse about Saudi motives seems to be that oil minister Ali Al-Naimi does not want to see a repeat of the 1980s when cuts in production saw his country lose global market share.”
“Within OPEC, only Kuwait (needing a breakeven price of $75), Qatar ($71) and United Arab Emirates ($80) can withstand the current oil price decline along with the Saudis. However, others would be left sweating. For instance, Venezuela needs the price to be an unrealistic $162. Iran needs $134, Nigeria $126 and non-OPEC producer Russia around $100. Of the four, Russia can withstand the price decline for now, but persistently low prices will start biting.”
It looks as we might have an oil price chicken race ahead.
Aleklett's Energy Mix 
Michael Lardelli
November 4, 2014
From Zero Hedge – Saudis selling cheap oil to USA but not to the rest:
http://www.zerohedge.com/news/2014-11-03/saudi-arabia-raises-asia-europe-prices-cuts-us-prices