'Now some oil analysts are anticipating barrel prices as low as $20 within the year. Some experts have suggested that Russia's move is intended to counter U.S. shale producers and hit back against the U.S. for targeting the Nord Stream 2 gas pipeline connecting Russia and Germany.
Saudi Arabia blasted back, in kind. Sunday morning, Saudi Arabia dropped its own oil weapon. Its latest plans will not only reduce its unrefined price to Chinese consumers by as much as $6 or $7 per barrel, but it is also reportedly looking to increase its daily unrefined output by as much of as 2 million barrels per day into an increasingly oversupplied international market.'
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Oil Prices Crash 25% As Oil War Begins, March 08, 2020
ContextOil Market Meltdown Sends Energy Stocks Crashing - 'An oil price drop to below $20 per barrel would be a shock..' - A. Gary Shilling'An oil price drop to below $20 per barrel would be a shock reminiscent of the dotcom collapse..''..a 30-year bear market..''It remains my view that the global Bubble has burst..''..history’s greatest Bubble.'(Banking Reform) - 'I have serious doubts contemporary finance will pass this test .. for centuries, post-Bubble post-mortem would invariably fault the instability of “fractional reserve banking.”..''The Kremlin’s confrontational stance towards the West is not a temporary matter..' - Maria Domanska'..Putin will turn 64, the same age that Leonid Brezhnev was in 1970 .. stagnation, intensified political repression, and escalated foreign aggression.', 2016
'..Putin’s Russia .. feudalism..' - '..The Byzantine choice was fundamental in the evolution of Russian society and state compared to Western Europe..''..the Russian Federation is facing the same problem as the Soviet Union did..''..Russia .. is a typical petrostate with a short-term horizon..' - Maria Snegovaya'..the biggest problem of Russian leadership is inability to admit mistakes..'