Why Falling Oil Prices Are A Serious Issue To The Economy

Saudi Arabia, Bahrain, Oman, Nigeria, Russia and Venezuela are going to have a hard time following the recent collapse in oil prices

(original publishing date 10/21/14)

There’s an interesting chart shared by Business Insider that tells us what is the “break-even price” (i.e. the price at which cost = revenue) for the oil industry in different countries.

While we write this article, oil is at 87 $, which is a total nightmare for some oil producer out there:

Venezuela needs oil prices to go up by almost 100%, and that’s just crazy.

The other countries showed in the graph are in a pretty bad situation too, and we’re starting to fear that Putin’s Russia will start to suffer the dumb choice of building the new renaissance of a national economy only on the energy sector.