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Teen solves centuries-old math problem
MOSCOW, Nov. 24 (UPI) -- Russian Finance Minister Aleksey Kudrin sad Friday a steep fall in oil prices could hurt the country's budget.
If oil prices fell sharply, "there would be no additional revenues at all," he told the state Duma. "One must always remember this."
The comments were reported by the Itar-Tass news agency.
Russia has enjoyed the rewards of high global energy prices. It's the top oil producing nation that is not a member of the Organization of Petroleum Exporting Countries.
Global oil prices reached $78 over the summer before they fell by as much as 25 percent to reach $59 in early October. They are now hovering around the $60 mark.
Most experts agree that they are unlikely to fall significantly below that level because of instability in major producing nations such as Nigeria, Iran and Venezuela and the threat of production cuts by the Organization of Petroleum Exporting Countries.
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