Even after the oil cartel's Secretary General recently said that OPEC's decision to keep production steady wasn't targeted at tight oil producers in the United States, Russia, or Iran, it's hard not to see the 12-member organization capitulating by summer.
Truth is, the oil war the Saudis have been waging for the past nine months has been against everyone. After all, it was Saudi Arabia that bullied the rest of OPEC to not cut output.
If you asked Venezuela for its thoughts on whether or not to cut production, the response would have been immediate.
I've mentioned before that the Saudis are using low oil prices to kill two birds with one stone.
Unfortunately, the masquerade won't last much longer.
Just remember something the Saudis don't want you to know: They are the ones at our mercy.