Putin just sparked an oil price war with Saudi Arabia — and US energy compa...

deafguy55     March 13, 2020 in ASL 42 Subscribers Subscribe


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Link , Link , Link , Link , Link , See>>(One potential answer: President Vladimir Putin wanted to punish the United States by putting severe pressure on the U.S. shale-oil industry, which has sold millions of barrels of oil while Russian companies kept production down under the existing OPEC+ agreement. “The Kremlin had decided that propping up prices as the coronavirus ravaged energy demand would be a gift to the U.S. shale industry,” Bloomberg News reported. The acerbic spokesman for Russian state oil giant Rosneft, Mikhail Leontyev, suggested that was at least one of the motives, telling the agency: “Let’s see how American shale exploration feels under these conditions.”)

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