10 years ago
1
Russia is planning for $30 oil in 2016
Russia is planning for oil prices to drop to $30 per barrel in 2016. The country's top finance official, Anton Siluanov, said the government must be prepared for prices to fall further in 2016 as the global glut grows and new supply -- for example from Iran -- enters the market. "Everything indicates that low oil prices are likely to dominate next year. And it is possible that at some periods [the oil price] will be $30 per barrel," Siluanov was quoted as saying...
Continue Reading
http://money.cnn.com
Join the Discussion
well if I were trying to make my budget for the year, I would estimate all of my expenses as higher than I really think they will be and I would estimate all of my income as lower than I really think it will be.
If I'm exporting oil, I'd probably budget for $25/barrel oil for exported oil. $30 doesn't leave much wiggle room. If I was importing oil and oil was on the expense side of the equation, I'd probably budget for $50/barrel oil.