Interesting thesis right now that the recent Paris attacks, as well as the downing of a Russian airliner in Egypt and bombings in Lebanon, could move Saudi, Russia and Iran closer together in an attempt to stabilize Syria. Notably, the Saudis have been punishing Russia and Iran in particular because these countries have publicly backed the Assad government in Syria. If that ends, if they all come together and cut a deal, this could end the Saudi overproduction of oil to a degree. Who knows if this scenario plays out, but it does speak to just how important geopolitical events are in affecting the global price of oil.
A Canadian Energy expert