16.09.2016 - Oil’s price slide creates slippery slope for Russia
There were some happy campers in Moscow recently when the price of crude oil pushed past $50 a barrel. The Kremlin seems to have successfully talked up the market by signaling it was ready for a production ceiling deal with OPEC. You could hear the collective sigh of relief from those controlling the Russian federal budget. But that euphoria ebbed once again as American shale producers picked up the slack to boost production and reduce prices. Brent crude is now back down to the mid-$40s because of a supply glut of oil and natural gas...............................................Full Article: Source
Print