Economics
Russia Can ‘Live Forever’ With $40 Oil in Warning to Hedge Funds
Russian Economy Minister Maxim Orseshkin speaks with Bloomberg's Erik Schatzker about the impact of OPEC production cuts and long-term oil market risks. He speaks from the St. Petersburg International Economic Forum on 'Bloomberg Surveillance.' (Source: Bloomberg)
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A race to the bottom in oil prices may not have many winners, but Russia is certain it can survive. It’s less sure about hedge funds.
“We’re actually ready to live forever with the oil price at $40 or below,” Russian Economy Minister Maxim Oreshkin said in a Bloomberg Television interview at the St. Petersburg International Economic Forum on Thursday. “All macroeconomic policy is now based on the assumption of the oil price of $40.”