Russian Drillers Rejoice As Oil Continues To Rally

Russia’s oil and gas industry has been the driving force behind its economy ever since the first oil fields were discovered in Tsarist Russia at the end of the 19th century at the shores of the Caspian. In the 21st century, the Russian economy remains highly dependent on the production of oil and gas. Therefore, the rosy outlook of the fossil fuel industry is good news for Moscow and its political ambitions. Last year was devastating for the global oil and gas sector as entire economies were paralyzed by government measures to stop the spread…