Iran and Venezuela to be main sufferers of low oil prices

According to the IMF and Fitch, Iran and Venezuela will be the main sufferers of low oil prices, their budget expenses need oil prices of $130.7 and $117.5 per barrel respectively. The critical level in Russia is $98 per barrel, Watchdog.org reported.

The minimal desirable oil price in Iran has not been calculated due to its concealed economic indicators. Bread in the republic has become 30% more expensive since December 1.

The poor oil conjuncture may encourage Russia and China to cooperate, assumes Eurasia Group President Ian Bremmer. In his words, rapprochement of the two states could make a long-term and dramatic change to the world.