In short order, only two things matter:
1. Anyone who is actively lobbying for production cuts can't actually afford to implement them. These rumors are trial-balloons, which their progenitors hope can lure support based on short-term technical rallies. Unfortunately, every producing nation recognizes these freeriders' inability to follow-through with cuts, which makes legitimate compromise on a reduction in production levels a total non-starter. Try to find the last time realized OPEC production volumes fell below the cartel's target - and that was when producers unanimously agreed to keeping a lid on production. You need to respect the strength of these rumor-rallies, but until Saudi capitulates, none of them should be bought.
2. Saudi holds all the power. They're the only nation with sufficient political clout and the mandate to dictate if, when and to what degree cuts will happen. It's still too early for the Kingdom to abandon such a monumental shift in policy after only a little more than a year.