The same buyers that bought it for 3-1/2 years from 2011-2014 will buy it again at ~$100.  As far as your citing Iraq not complying we are just going to have to wait as I just read another article that said they are, it is all according to reports, not hard numbers yet.  I did read Russia is down 140,000 bbls a day for the first week of January appearing to be starting the cut, but again we need a month under our belts to sort out fact from propaganda.  The reason they won't cheat at 60-65 oil is they can hold on and get 70-80+.  With a finite reserve it only makes sense to maximize profit, or at least that is the way I think, and if they have calculated shale isn't going to make a dramatic difference why not?