Don't forget that the OPEC countries are throttled back to try to boost oil prices. Just because those capitalist pigs from Mother Russia eek by them in production this month doesn't make me think that they'll soon be big, bad oil barons.
I'm willing to bet that the Saudis oil extraction technology eclipses Russia's and their lead in production will definitely be short lived.
However, this event has surely caught the Saudi's attention and may put a damper on what I believe is a plan to boost prices up to satisfactory levels, hedge them and then flood the market with their oil while we sink back into the early 80's crunch.
It's all theories and speculation, of course.