As the oil tide recedes, oil-exporting sovereign entities have been treated with increasingly bearish sentiment by credit investors. Oil has seen its price halve since the end of July last year, from around $100 per barrel to around $50 today (WTI), compelling net exporters to rethink their budgets.
Large sovereign wealth funds look to have buoyed Norway and Saudi Arabia as their CDS spread sits largely unmoved………………………………………..Full Article: Source