Two years is a long recession. Russian economists are now calling for a 4% to 5% economic contraction in Russia. Hard to believe Putin is so popular with his people.
One theory to this whole oil price drop relates to natural gas. Since Putin could use nat gas to pressure Ukraine and Europe, by cutting off nat gas supplies this winter, the West and its allies like Saudi Arabia are keeping oil low enough that Putin has to keep selling nat gas to pay Russia's bills, taking away the nat gas weapon this winter. Who knows?
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