How Low Oil Prices Are Hitting Russia, Iran, And Venezuela

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In The Media

How Low Oil Prices Are Hitting Russia, Iran, And Venezuela

Recent oil market shifts spell bad news for a number of countries with economies based on oil.

By Moisés Naím

Published on Oct 15, 2015

Source: WBUR’s Here & Now

Oil prices fell on Thursday, with brent crude oil trading around $49 a barrel. That comes a day after the American Petroleum Institute reported that oil inventories rose by 9.3 million barrels last week. That means the amount of oil on the market is still very high, and analysts think that high supply will keep prices near historic lows for some time.

That is all bad news for a number of countries with economies based on oil. Moisés Naím took a look at the impact on countries including Russia, Iran, Venezuela, and Saudi Arabia with Here & Now’s Jeremy Hobson.

This broadcast originally appeared on WBUR’s Here & Now.

About the Author

Moisés Naím

Distinguished Fellow

Moisés Naím is a distinguished fellow at the Carnegie Endowment for International Peace, a best-selling author, and an internationally syndicated columnist.

Recent Work

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The World Reacts to Biden’s First 100 Days
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View From Latin America
- Moisés Naím

Climate Change South America Middle East Iran Russia

Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.

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