Here is my belief. I have no proof it, but it sounds very logical.
USA wants Assad out of Syria. Russia is aiding Assad. So to hurt Russia, USA made a deal with Saudi Arabia. You increase your oil production to maximum. Your losses will be compensated because you can go short in oil in derivatives market against USA.
Russia knows that oil price drop is possible because US $ is the world reserve currency and USA can print Trillions of $ to manipulate any market. The only way to reduce USA's power is by reducing the power of US $. So Russia and her friends (China) are making deals all over the world to trade in their local currencies, without using the US $.
As more and more deals are made outside US $, the demand for US $ is decreasing. The FED has no choice now but to raise interest rates to avoid hyper-inflation in USA.
As long as Assad is in power in Syria,
- Oil price will remain below $50.
- FED will keep increasing rates say 0.25% per quarter.
