Economics
The $30 Oil Cliff Threatening Russia's Economy
- Oil, geopolitics top risks for Russia in 2016, economists say
- Russia unprepared to weather another oil shock, survey shows
Global Glut: Oil Inventories on the Rise
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For Russia, $30 is the number to watch.
Crude prices at that level will push the economy to depths that would threaten the nation’s financial system, according to 15 of 27 respondents in a Bloomberg survey. 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.