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The simplest version of the story is this: Russia has gained tremendously thanks to the unusually high price of oil. Should the price of oil fall back the avera
by lkrubner 4y ago
The simplest version of the story is this: Russia has gained tremendously thanks to the unusually high price of oil. Should the price of oil fall back the average of the last 10 years, then Russia's situation will appear far more precarious.
- 082349872349872 4y agoLooking at https://en.wikipedia.org/wiki/1980s_oil_glut https://en.wikipedia.org/wiki/1980s_oil_glut and eyeballing 1980-1990, it seems plausible that the Union had been doing OK with oil at USD 30 but became far more precarious indeed with oil under USD 20? OPEC+ doesn't seem to be in the mood to replay the 1980s, though.