Oil prices have been falling since the last summer. Saudis make it clear that they have deep interests in retaining (increasing) their market share as long as possible. Reasonable explanation of the current market strategy. Timing is perfect and shale/tar/renewables over invested during the last decade seem having no chances at a one-two year horizon. European countries with windmills producing more than 25% of energy will be interesting case to observe.
However, this is just the first step into the global war for market shares. Among many negative consequences, falling oil prices can make a few good things for oil producing countries. Transportation becomes cheaper. For example, Russian coal gets a $40 advantage and becomes more and more attractive for many consumers. Moreover, dramatic rouble weakening adds competitive power to Russian export while import of oil-related machines from the Netherlands and Germany becomes irrelevant because projects of oil extraction in Arctic and other hard conditions must be delayed or cancelled (same in Canada). Germany, France and the Netherlands will soon meet export fall. Other commodities, goods/services, countries, regions, the world itself and its economy will be subject to changes through usual mechanisms of trade, cold and hot wars. So, interesting and dangerous time is coming.