The picture is not pretty and low prices are here to stay for some time. The head of Exxon thinks two years at least.
That is not enough to sink Saudi Arabia but it is enough to allow the advent of Dark Matter Energy or DME to become properly established. Understand that this will mean a shift for the entire automotive industry in a single season.
Gasoline sales will then enter a rapid decline lasting less that five years as all old stock is either mothballed or converted. Add in the conversion of all grid power to a similar system and the market for oil will be completely over.
We can now predict time frames rather well. Development work is well underway and 2018 through 2023 should see a global conversion to DME that ends the oil industry.
Saudi Arabia Might Just Have Blinked In The Oil War