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OPEC

World news about “OPEC” published by euronews.

27/11 21:32 CET

Russian economy stumbles under oil price pressure

Russian economy stumbles under oil price pressure

Russia accounts for 11 percent of the world's oil, but oil and gas combined make up a hefty 50 percent of Russia's budget, so price fluctuations have a massive effect on economic planning. This year's price drop has already cost Russia $100 billion in revenues, and that…