Saudis decide to borrow rather than cut production (in order to force up prices)

A decision to sell bonds means that the Saudi’s have lots and lots of money to use in pursuing a strategy focused on defending market share. If you were thinking that we might see the end of oil price bust by the close of the year and that supply and demand were headed into balance in early 2016, I think you need to revise your thinking. The oil price plunge just got longer and deeper