Saudi 1 : 0 Russia

Interesting analysis by Paul Mason of C4.
Not particularly original ideas, but good to see the whole position summarised readably:

Opec’s decision to go on pumping oil, in November, faced with collapsing demand, was designed to do exactly what has happened – sink the oil price to the point where only the big Gulf producers can break even, harming their competitors [including Russia] – and in the process sabotaging the expensive end of the US shale-oil industry.

What it does to Putin’s power base is scary of course.

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