I'm not sure the oil price lows of the mid- 1980s had anything to do with such lofty strategic aims. Rather, they were a combination of an increase in supplies and stocks due to high prices following the Iranian Revolution; a slowdown in demand due to these same high prices; and ambitious Gulf development expenditures (and hence pressures for larger OPEC quotas). When the price started to drop, the Saudis eventually tired of being the swing producer, and instead for a while sought to maintain revenues by offsetting price declines with production increases.
At most the (secondary) strategic aim was to reduce the market share of high-marginal-cost oil producers (with North Sea, older-well North American producers, and new explorations being more vulnerable by this time than the Soviets were).
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