| Countries with heavy oil exposure have faced extremely rough trading in recent months as steep losses started to pile up in the space. This prime commodity has entered bear territory having slid more than 40% since June and touched the five-year low level. Brent crude prices are presently hovering around the $60/bbl. level.
A supply glut, 'no production cut' by the OPEC nations and anemic demand outlook are wrecking havoc on this liquid commodity. This has taken a toll on oil-rich nations which are among the top exporters of the commodity. As a result, the stocks and related ETFs of these nations have seen plunging share prices for quite some time now...............................................Full Article: Source
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