It has been reported that OPEC is going to cut production.....again.....again.....again. There is no way that neither Saudi Arabia, Russia, or Iran will give up on cutting production to protect their market share. Regardless of what happens, Non-OPEC countries will continue to suffer and slowly wither away. I was laid off back in April of 2015 from a seismic company that was just coming out of bankruptcy when the oil prices collapsed. Many of my former co-workers and friends from other processing centers have been let go or extremely fearful that the knock will come on their door in the next few weeks or months. I would assume that Q1 for most companies will be much worse than last and that more officers will be showing up at companies across the nation to "politely" escort the recently discarded out the door. And more companies will be forced to declare bankruptcy because they are leveraged to the hilt and cannot afford to pay back the banks.
Only a war between Russia and the middle eastern countries will change things. I strongly suggest that this is just one of the reasons that Russia is in Syria. If the ruble continues to plummet, something will happen....