Note: They are not saying there is less demand for oil, but less demand for THEIR oil given US production and others.
If you have trouble with the link, the article can be found by web search of the title, such as:
Good. Death to OPEC.
Not after we get through bombing the ISIS held oil facilities.
They’ll blow up real good.
One wonders if the Saudis are able to cut production to try to control price depression, or are they caught in a cash-flow trap where they can’t cut.
And what of the other members? Can they put together a united front under these conditions?
That’s very true, and probably for the next few years.