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Sunday, March 22, 2020 12:47:57 PM
Both Russia and Saudi Arabia are set to suffer from the oil price war, as $30 oil is below both countries’ fiscal breakevens, especially below Saudi Arabia’s $80-plus oil price breakeven.
Russia admitted this week that its revenues from oil and gas would be US$39.5 billion (3 trillion rubles) lower than planned due to the tumbling oil prices, and that Russia’s budget would be in deficit this year.
https://oilprice.com/Energy/Energy-General/Russia-Wont-Blink-First-In-The-Oil-Price-War.html
Somebody will blink, somewhere in April imo.
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