If the price drops it is usually due to a surplus on the Market. OPEC try and regulate this by reducing the output. I can have an effect but they are only 40% so if the remaining 60% increase output then it counters it.
This is why we must continue to drill the North Sea so we wont be left to the whim of others.
What we (and the rest of the world) need to do is be less dependent on oil and it's related products. This sort of thing just adds to the urgency. The boffins need to come up with sustainable alternatives to all.