Russia May Cut Crude Estimate in 2016 Budget as Prices Plunge

  • Finance Ministry sees oil at $40 a barrel next year for budget
  • 2016 budget currently based on average price of $50 a barrel

Russia may cut its oil-price estimate for the 2016 budget next year, possibly following other crude-exporting nations as the commodity, which makes up about 40 percent of the country’s budget revenue, nears 11-year lows.

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