IMO, they didn't count on the price to drop so low. I won't say they are broke! LOL! However, when you consider how many millions of barrels of oil they sell, going from $100 to $50 is a HUGE decrease in revenue for them.
IMO, they are going to do nothing but work on a strategy to advertise a shortage enough to bring speculators in to bring the price up. And they couldn't figure out how to do that over this weekend.
Give it a few weeks and watch the PR's and Reuters articles flood the media with claims of shortage. Make no mistake, they won't stop when the price is at $75 per barrel. They have A LOT of revenue to make up so they can fund their nuclear agendas.
Even when the price went up to $147, out of 5 news releases about supplies, at least 3 out of those 5 showed supplies increasing. Nothing scientific. I just read a lot of articles during that time on oil and most showed that supplies were increasing.
