OK, conspiracy theory time....
OPEC is keeping production high, helping to create the crude oil glut and driving the price per barrel down in an attempt to curb the production in countries that need at least $85.00 per barrel to be profitable (Alberta tar sands for instance...). Middle east oil is the cheapest to produce and they can make a profit even under $50.00 per barrel and can easily wait out the lower prices in the hopes of killing off production in other countries.
Killing off the Keystone pipeline project from Alberta to the US refineries is also a part of the strategy to strangle North American production.
Then they can get everyone to come back to relying on middle east oil as their main supplier, get us all hooked again and *SHAZAM*, slash production to crank the price back up to $120.00 per barrel.
By the time the higher cost producers get back online they will have made insane profits.
Just my 5 cents worth....