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2020-04-03 12:00:00

#OilPriceWar: RUSSIA'S OIL PRICE $20

#OilPriceWar: RUSSIA'S OIL PRICE $20

BLOOMBERG - Russia is planning for oil prices at $20 a barrel this year and will ramp up borrowing in rubles to make up for a budget shortfall.

The government will add 1 trillion-1.5 trillion rubles ($13 billion-19 billion) to its borrowing plan of about 2.3 trillion rubles for this year, according to people familiar with discussions who asked not to be named because discussions are ongoing. The Finance Ministry estimates budget losses will total 3 trillion-4 trillion rubles this year, the people said.

A nationwide shutdown starting this week…

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Earlier:

#OilPriceWar: RUSSIA'S OIL PRICE $20
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