Oil prices plunged following last Thursday’s OPEC meeting, during which the cartel announced that it will not cut production. Falling energy prices have put pressure on the budgets of the world’s major oil-producting nations like Russia. However, Russian President Vladimir Putin doesn’t seem too worried. “Winter is coming,” he said on Friday according Bloomberg News. “I am sure the market will come into balance again in the first quarter or toward the middle of next year,” Putin is “sanguine, suggesting falling oil won’t force him to meet Western demands that he curb his country’s interference in Ukraine,” reports Bloomberg News. …read more
Source: Business Insider
