Oil prices at $30/barrel threaten Russia's financial system says a Bloomberg survey
- According to 63% of respondents
- Lower prices for the fuel are next year's biggest risk for Russia, which is unprepared to ride out another shock on the oil market, most economists said
- Other dangers for 2016 include geopolitics, strains in the banking industry and the ruble, according to the poll of 27 analysts.
That's the Brent price, BTW.
More at the Bloomberg article.
I don't imagine Russia would be the only energy exporter in trouble if prices fall that low, or lower. I'm not expecting the oil price to bottom until just after I buy a big, fat, ugly V8. That'll be the bottom, right then, for sure.
OPEC meet on December 4
