In reality the target is us.
OPEC’s idea is to try to knock out U.S. shale producers by driving prices lower than they can afford. That way Saudi Arabia, the cartel’s biggest exporter, can keep its market share in the U.S.
Can the U.S. Fracking Boom Survive With Oil 65 Per Barrel - Businessweek
U.S. production probably will decrease, even if it takes a while. At $65 a barrel, it’s unlikely the U.S. can keep up its record-setting pace of expanding oil production. U.S. oil has jumped from about 5 million barrels a day in 2008 to more than 9 million. Even before OPEC’s decision, forecasters were calling for a slowdown. Last May, for instance, the Energy Information Agency forecast that total U.S. production would peak just shy of 10 million barrels per day before 2020.
Surely you remember the 80's and how OPEC destroyed much US Exploration.
Oil prices plunge U.S. energy defiant in oil war with OPEC - Dec. 2 2014
Party like it's 1986? OPEC appears to be taking a page out of its 1986 playbook, when Saudi Arabia abruptly ramped up production and sent prices tumbling. The strategy worked, forcing many oil drillers in Texas, Oklahoma, and Louisiana out of business and allowing the Saudis to clinch more market share.
One of the few times i agree with you on anything. The OP is also right, it's dual purpose. all the extra money Obama is letting flow into Iran is being counter balanced by low oil prices, which is good.