This is not analysis, but what if and maybe speculation?

Clearly the only folks hurting are the middlemen profit takers and market massaging price gouging speculators, unable to manage increased supply given it is too big a bite for those, whose deep pockets allowed them, in a market of artificially constrained supply, to buy and sell, for quite massive returns!

However, the Saudis and the Iranians are just not cooperating; and in the case of the Saudis. getting into the refining side in a big way!

And pointing the way for other producers formerly held by the financial short and curlies by the refining giants. Moreover, given the effect on economies, where this commodity has been used against them as a veritable economic weapon, will after a stage managed decline, emulate the saudis and virtually eliminate the middleman profit taking speculator by investing in new prospects like the massive 1.8 trillion barrel Edmonton reserve?

But guarantee its long term and maximised viability by emulating the fiscal prudence of the Saudis by also investing in matching refining capacities.

Even where that may include government involvement as the principal investor. And even then allow governments with trillions in tax revenue to invest in multiple refineries as the Saudis have done to capture and dominate their own domestic market' and that of important trade partners.

And in so doing reroute the rivers of gold that once flowed into the pockets of greed drive speculators, who essentially added nothing but their quite massive profit demands from was once the highly manipulated and staged managed spot oil market?

May the three years of pain be entirely theirs and indeed the following fifteen by which time the world will have ripped back their financial independence and economic sovereignty via a veritable tide of alternative options, based around clean electric choices!
Alan B.