If the Saudi's or any producer cut production, it would drive prices higher not lower as oil currently is around ninety seven dollars per bbl.

And there there is reality.

If the Saudi's cut production the other OPEC members could replace it in less than an hour. Everyone is currently producing less than they are capable of. If the Saudi's cut their production to zero it would impact the market for about 48 hours since that's how long it would take for those not in the business to understand what they are really dealing with.

Oil will soon hit $85 a bbl., and it will stay there unless it goes lower.

You do not understand just how much oil is currently out there looking for a buyer.

By the way...

Spot price is currently $97 a bbl. That is if you need oil today.

The future price of oil is right at $85 a bbl and it drops off quite a bit after that.

This is because in the future Brazil will come on-line with a new field at the mouth of the Amazon that some folks think will crash the price of oil.

Trick stuff, but it all points to a great outlook for anyone who loves to drive!

^^^

I rather like to drive (for pleasure trips, not commuting). But if higher oil prices make people drive more and live further from home, this just means more traffic for me.

Cheap oil also makes people forget the lessons of the 70s, 80s, and mid-2000s, and move away from efficiency. Then when the next oil shock comes, it hits the economy hard.

Back during the last run up in price (3 years ago?) I recall reading an interview with a Saudi prince or king and he said oil should currently (then) be, as you say, $85 per barrel. At the time, iirc, it was around $105 maybe?