It's not a better metric. The only metric that matters, is output. The US is producing one million more barrels per day than a year ago. The only thing the reduction in rigs will cause, is slowing down growth.

The Saudis weren't the primary cause of the price drop anyway. The US dollar going on its greatest run in decades is what broke the price of oil. The strong dollar also caused the low price of oil in the late 1990s. The US dollar is the only thing that coincides with the drop in the price of oil. Global oil production had been in significant over-production for years prior to the price falling.