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'Horror Movie' for US Oil Industry: Why Russia and Vladimir Putin are Waging a Crude War With America
March 10, 2020 | By News18.com
business
Putin's goal is to wrest market share back from American frackers, whose debt-fueled growth caused Russia to lose its title in 2018 as the world's largest oil producer.
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Vladimir Putin knows America's fragile oil industry is built on a mountain of debt. So when Saudi Arabia called for production cuts to mitigate oversupply, Putin decided to pounce. Russia shocked the world last week by blowing up its shaky alliance with OPEC
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