A Very Blunt Weapon Indeed ?

Its actually quite a serious situation as oil this month has fallen in value by now up to 40% . Countries such as Saudi Arabia are even claiming to be dipping into their country's reserves ( temporally they hope ) to keep their country running.
   Normally during a price drop oil production is slowed down, then up the world price jumps, but today that doesn't seem possible ? Nobody is quite sure why, but I heard an expert say on the radio that big oil producing nations are trying to drive smaller producers like the U.K out of the market place, and then they plan to reduce production again to raise the world price back to the old high levels .Also Iran is included in the country's Saudi Arabia would like to see cease production too. Maybe its a blunt economic weapon, but they also must realise its hurting them too
 . And then there is Americas Shale Gas production spike. That I feel maybe the most likely reason for the free fall in prices. It amazes me how America just gets on with an idea such as Fracking, while here in the U.K we debate and debate, and Oh,Yes we debate again....Yes, its a very murky picture...