Does Saudi Arabia's refusal to cut oil production amount to economic warfare?

Oil prices have been falling for some time now, thanks to increased supply from US and Canadian shale oil. At the recent OPEC meeting, Saudi Arabia scuttled any suggestion of cutting oil production to stabilise prices. Considering Saudi’s history of working with the US on economic issues, I don’t think it’s much of a stretch to say that this action is aimed at Russia, where the rouble is suffering from both sanctions and oil prices.

So the question is, does this amount to economic warfare, and should Saudi Arabia expect some economic or political retaliation, such as the ban on European and Australian fresh produce?