Russia was collateral damage.
We're talking about 49% of total US crude oil production.
OPEC got greedy, that created room for shale, and Russia got hurt.
But there's another country they're looking to disrupt, one who's primary source of income is through oil sales due to sanctions. Their biggest enemy.
Iran.
Politically, if Saudi Arabia can't be counted on to fix prices when faced with a threat like Russia and Ukraine, then why does the US keep them as an ally, since they're clearly involved with terrorism?
By contrast, the US added about three million barrels per day in three years ('12,'13,'14).
Most of the oil price damage was caused by the dollar. Oil had been running at significant global oversupply for years before the dollar began to crash the price back in June/July 2014. That same dollar effect threw Canada into a recession, cut Australia's growth rate in half, and crushed emerging markets including Brazil.
Long before Saudi Arabia boosted production, the dollar took off on its greatest run in decades. Oil immediately began to crash from there forward.
The USSR also collapsed due to the strong dollar 30 years ago, which dropped the price of oil substantially. Oil went from $140 inflation adjusted, for three years, to plunging off a cliff to $35 or so, courtesy of Volcker's strong dollar move. And then again Russia nearly imploded during the cheap oil days of 1997-2000, also caused by an extremely strong dollar (gold hit around ~$250).
When the dollar is strong, it takes fewer of them to buy a barrel of oil. ITT there is a lot of talk about the production side of the equation, but the effect of the strong dollar and weaker Chinese demand have played a role too.
China is talking with Russia, Saudi Arabia and Iran about RMB denominated contracts, so that'll be fun. Currency risk will have to factored into contract prices.
This petrodollar conspiracy is baffling.
Countries don't hold dollars solely to buy oil.
The oil and gas industry is only about 4.6% to 6.5% of the global economy.
Countries hold reserve currencies to manage the exchange rate of their currency. Petrodollar conspiracists would be well served by learning about foreign exchange reserves: https://en.wikipedia.org/wiki/Foreign-exchange_reserves
And in any case, only 65% of foreign currency reserves are in the USD.
The US defense of Saudi Arabia has a requirement that Saudi sell oil in US dollars..
It probably doesn't help that Putin is messing around the mideast and trying to get all sorts of oil/gas pipelines running through it. On top of Putin cozying up to Iran, which is SA's regional rival. I imagine there's a realpolitik angle here and probably a dozen other angles, but the idea that the US called up SA and made them drop prices solely to hurt Putin laughable. Putin is already hurting Putin by forcing sanctions on himself with his various annexations. Even without the oil drop, Russia's economy would still be in the shitter. They can't get the loans they need to beat the recession that's been brewing for years. They can't modernize their economy, can't diversify, etc. They scared off foreign investors with their annexations, civilian targeting, corruption, and nationalization of wealth. What country did the founder of VK flee to, for example? The oil price drop is just the icing on Putin's incompetence.
The ruble is now 0.015 US Dollar, which is half its historic price. We didn't get here by oil price drops alone. Putin is digging his own grave here, and by proxy, the Russian people's.
My interpretation wasn't that they're working together, i.e. coordinating, more like acting in unison where they are each given a different pressure-point to attack suited to their innate abilities or field. So a central goal would be established at the highest level and you give a task to each entity that can contribute in their own separate ways to that goal - e.g. a newspaper leaks something that will destabilize something. An NGO will support a particular group with food, AID, legal advice, protection. A diplomat will call in some favors.
They're all doing different things with different effects that will hopefully contribute towards the greater goal, which would also explain how things can go pear-shaped if it doesn't all lock together into a cohesive outcome.