Cartels only work while they have monopoly on supply. So Saudi tried to re-activate OPEC, and the world did not even notice.
The world is doing Molecular Nuclear Fusion. Thai converts regular water, into energy – from which we generate electricity.
No radioactive waste. A hydrogen plasma does atomic nuclear fusion, but is too energetic. Read http://journals.aps.org/prl/abstract/10.1103/PhysRevLett.86.436.
So a 50x1cm steam plasma at 4 atmospheres produces a constant 1.2 MW of heat, from 6x10-17cc of regular water a decade. Heat with no CO2, or hyper toxic radioactive waste. Enough to generate the power for 140 power users. An an annual income of 6 million dollars.
No 18 billion, for an illegal, uninsurable plant. Uranium needs an impossible 100 billion of insurance. So every nuclear power plant in the world, is operating illegally.
Sizewell B has never operated legally. It has no valid planning consent, so must shut down instantly.
So Saudi, Venezuela and Russia are all operating on a buget deficit. Without oil, they are so bankrupt.
Are the newly agreed quota reductions going to stick? Hell now. The tonnage of oil being shipped by the day is shrinking, so the quato reductions are less than the market shrinkage.
All it will do is speed the adoption of Molecular Nuclear Fusion. Thanks Saudi.