Just to be clear here, Saudi Arabia has already come out and said they would be open to discussing a cut but they were very clear that they, themselves haven't

Just to be clear here, Saudi Arabia has already come out and said they would be open to discussing a cut but they were very clear that they, themselves haven't proposed any form of cut by OPEC members. I think the article makes this clear but the headline is misleading. The biggest issue for many of the first world oil produces and services is that they levered up on debt in the past 6 years when money was cheap and now alot of loans are coming due in the next 18 months. Larry Fink, of BlackRock fame, has come out and said as many as 400 energy companies may not survive due to their debt loads and the current value of WTI. [1] The junk bond market is about to become overcrowded. As for the OPEC members, they are in a tough deflationary spiral where the lower price of oil means they need to produce more barrels to meet their governmental budget demands, which pushes down the price of oil, which leads to them needing to produce more barrels of oil, and so on and so on..... [1] http://www.bloomberg.com/news/articles/2016-01-27/blackrock-s-fink-says-400-energy-firms-may-not-survive-cheap-oil http://www.bloomberg.com/news/articles/2016-01-27/blackrock-...