the Saudis can produce at price levels so far below everyone else and still turn a profit it's untrue
It also reminds the US of their "old friends" in the Middle East and a touch of the whip on shale oil producers, who, even if the price comes back, will have more trouble raising cash in the future
Secondary, but also benifical results from a Saudi view, is it puts internal pressure on Iran and Russia (they could care less about Venezuala) and it makes the contracting business reduce its exhorbitant prices
lots of wins and not many losses for them TBH