Mon Oct 13, 2008
(Reuters) - The oil price slide from a record of $147.27 in July to less than $80 last week has very different implications for different members of the Organization of the Petroleum Exporting Countries.
Saudi Arabia and other Gulf producers can balance their external accounts with relatively low oil prices and can also draw on funds accrued during the price boom, while Venezuela needs a much higher figure to balance its books.
The following are estimates from Washington-based consultancy PFC and Germany's Deutsche Bank of how much various OPEC countries and non-OPEC Russia need on average. http://www.reuters.com/article/GCA-Oil/idUSTRE49C47B20081013?sp=true