The frackers were causing problems in the global oil market.
New technologies normally get consolidated by the larger monopolies over time.
The only way to do it is to bankrupt the smaller players.
China is the largest crude oil importer, soon to be the largest total consumer, OPEC cares much more what happens in the East, Europe and partially US.
Covid-19 and the economic crash is a wet dream for the major powers.
- CCP rounded up all the people in HK.
- KSA gets to consolidate market share, steal from middle class through the Aramco IPO.
- British people stopped talking about Brexit.
- Energy cartel in NA continue to vertically integrate after "startup" did their innovation.
Remember that OPEC was Kissinger's idea.