Russia and Saudi Arabia can withstand the pain for a while if it leads to the complete collapse of the US shale oil companies. This is what it's about, an opportunity for OPEC to kill the competing US shale oil industry as shale oil is far more expensive to produce. Russia and Saudis will cut production but only by a 1/5 or so. It is not possible technically to completely stop production on the spot anyways.
WARNING: Read me before buying OOO, page-359
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