17.11.2014 - Russia Threatened by Oil Price Slump Till 2015
In a blow to the financing of the state budget and Russian oil majors alike, global crude prices will likely remain low until 2015, according to the International Energy Agency's (IEA) Oil Market Report for November, released late last week. "It is increasingly clear that we have begun a new chapter in the history of the oil markets," the agency said in its report. On Thursday, oil prices hit a four-year minimum of $78 per barrel and although recovering slightly stayed below $80 until the end of the week. Just one month ago analysts predicted $80 per barrel would be the bottom for the continuing drop in oil prices but as the year approaches its end, $65 is already considered possible..........................................Full Article: Source
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