Sunday, November 30, 2014

Russia Will Not Cut Oil Production

OPEC's decision to maintain production in the wake of falling oil prices has forced Russia not to proceed with its own cuts, according to Russian First Deputy Prime Minister Igor Shuvalov.  With oil and natural gas sales representing half of its budget, the fall in prices has made an even bigger dent in Russia's economy, which is already teetering on the brink of recession.  Remember when that country was an economic powerhouse?

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