Oil tycoon from the United States Harold Hamm said that Russia and Saudi Arabia to attack oil shale industry in the United States, flooding the market with cheap oil.
"They benefit from the pandemic coronavirus that gripped the whole world to focus on this industry and devastate her," said Hamm, founder and CEO of Continental Resources Inc. in Oklahoma city, interview "FOX Business". "This will not happen. We are going to take action against them. We are going to investigate it."
He said that Alliance of energy producers, the U.S. has taken steps for the adoption of the resolution and launch an antidumping investigation against Saudi Arabia, Russia and possibly other countries.
American producers of shale oil and gas is not able to make a profit at oil prices in the world market below $ 40 per barrel.
Monday oil brand West Texas Intermediate fell by 24.6 per cent after Saudi Arabia lowered its price of 6-8 dollars a barrel, when Russia refused to join OPEC in reducing supply. The sale led to the fall of the Dow Jones Industrial Average by more than 2000 points, the strongest since the financial crisis of 2008.
"does it Harm the industry? Of course. Both countries — Russia and Saudi Arabia — understand it and therefore do so. Can we stop them? No doubt," said Hamm.
