Nick Cunningham, Fiscal Times/OilPrice.com: 5 Countries Getting Crushed by Low Oil Prices
Persistently low oil prices have already inflicted economic pain on oil-producing countries. But with crude sticking near six-year lows, the risk of political turmoil is starting to rise.
There are several countries in which the risks are the greatest – Algeria, Iraq, Libya, Nigeria, and Venezuela – and RBC Capital Markets has labeled them the “Fragile Five.”
Iraq, facing instability from the ongoing fight with ISIS, has seen its problems compounded by the fall in oil prices, causing its budget to shrink significantly. The government is moving to tap the bond markets for the first time in years, looking to issue $6 billion in new debt.
More News On The Continuing Decline (And Impact) Of Falling Oil Prices
OPEC's ‘Fragile Five’ Face Rising Cost in the Fight for Oil Market Share -- Bloomberg
Oil dives below $40 after rise in U.S. oil rigs -- Reuters
Oil Falls Below $40 for First Time Since 2009 as Glut Grows -- Bloomberg
No End in Sight for Oil Glut -- WSJ
Sagging oil prices have Venezuela virtually bankrupt -- CNN
How cheap oil will hurt Iran's comeback -- CNN
Oil’s latest casualty: Mexico -- CNBC
No comments:
Post a Comment