“In the issue of oil, the economy has not been the sole important factor,” Rouhani said. “International politics and plots” have also affected prices, he said, without elaborating.
NCRI – The Iranian regime is facing a deepening financial crisis as the price of crude oil plunges on international markets.
The regime’s budget deficit was reported by the state-run Ebtekar daily newspaper on November 8 issue as totalling 1.5 billion dollars. But economists believe the true figure is much higher.
Russia, whose economy is forecast by the central bank to run zero growth next year, is struggling under the weight of a plummeting ruble and sanctions imposed over the conflict in Ukraine. Brent crude, the grade that underpins prices for Urals, Russia’s main export blend, is set for a record losing streak amid speculation that OPEC will refrain from cutting production to ease concern of a supply glut.
A pressing question lies in determining what effects considerable cuts in the price of oil, the glut in oil supplies, and the remarkable growth of the U.S. oil industry, has and will have on international politics as well as on the global economy. Almost certainly, the United States and Western countries will benefit both politically and economically, while most of the members of OPEC, and countries including Russia, Iran, and the Islamic State of Iraq, and Syria, will be hurt. More broadly, there will be a global economic benefit as lower energy costs will help both producers and consumers.
Abductions, beheading, mass slaughter — headline grabbers!
While post-feudal North America has been working on greater achievement in energy independence, it appears some oil cash flow addicts have puffed and bluffed their way into an anticipated but unaddressed cash crunch with consequences looming on the near horizon, this perhaps despite deep pocket brags.
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