Wednesday, December 30, 2015

Saudi Arabia Budget Deficit 2015 And Oil Prices


By Lianna Brinded, Dec 29, 2015 BusinessInsider

Oil prices have plunged about 60% since the summer of 2014, and it is not only hurting energy companies' balance sheets — it's also slowly killing off oil-rich countries' economies, the latest being that of Saudi Arabia.

Saudi Arabia is arguably to blame for hurting its own economy because it is a "swing producer," meaning it produces so much oil that it can shift prices depending on how much of the product it releases to the market.

 
Read More: http://www.businessinsider.com

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