Despite all that talk that production wouldn't be cut even oil prices dropped to $20, it appears like gulf countries are beginning to feel the effects of low oil prices and are willing to cut production so the prices can go up a little. But they have some conditions. They'll only cut production if Iran, Russia and Iraq join them. http://www.marketwatch.com/story/sa...ut-oil-production-if-others-follow-2015-12-02 Will Russia and Iran play ball? That remains to be seen.