Besides the declining demand due to the coronavirus epidemic, in my opinion, the oil price war between Saudi Arabia and Russia is only a proxy war run by the United States through MBS to tackle Russia but it seems that Russia is not afraid of the bluff of MBS instead the United States and Saudi Arabia are now doing lobbying to President Putin.
Seriously, stop watching Russian propaganda...
Russia is a gas station that is going bankrupt.
Every time oil prices took a dive, Russia was on its knees begging.
At the end of the '80s oil went down to 20, the URSS fell apart, in the '90s oil went again to 20$, Russia went bankrupt again.
Who the hell cares about what Russia does anymore, they are done for, with 10 million extra barrels a day and this shutdown their whole bluff of letting Europe without gas and oil scares nobody and nobody who knows how Russia lies 20 times per second believes their bravery speech.
Do you know what sanctions have done to them? They have a lower average wage right now than Romania!
The biggest country in the world with tons of resources and land, the so-called global nuclear power is earning on average what an Mc Donald's burger flipper does in one week.
Reserves?
They have already flushed down the toilet in one week 30 billion trying to prob the ruble and help Rosneft, and here you have it, from their own propaganda tabloid: https://www.rt.com/business/484229-russia-forex-reserves-fall/
Now the choice is in Russia's hands, it will punish the US shale oil industry to stop or file sanctions for the United States.
Seriously stop
