Of course after the Saudis succeed in breaking the back of competitors, we can expect oil prices to go back up again.
Consider what would happen if McDonalds decided it wanted the hamburger business all to itself, and had enough money to be able to roll prices back to 19 cents for as long as it took.
The oil in the ground isn’t going away. Neither is the equipment and expertise needed to tap it.
If this is truly the Saudi strategy, it’s a really stupid one.
Personally, I think they’re aiming more at defunding and possibly collapsing Iran.
It’s already been considered and in a free market the net beneficiaries are consumers. In the free market consumers are kings!