Subscribe free to our newsletters via your




OIL AND GAS
Bleak outlook for oil has Russian investors pulling back
by Jared M. Feldschreiber
Moscow (UPI) Jul 27, 2015


As international sanctions push Russia toward its first recession since 2009, market analysts are predicting a worse outlook for the prices of crude oil, the country's biggest export.

The bleak outlook for the price of crude oil has prompted money managers at Franklin Templeton Investments and Paribasto to cut back in Russia, Bloomberg reported.

"For now there's stability, but the price of oil seems to be settling in at a new normal," Ruchir Sharma, the head of emerging markets at Morgan Stanley Investment Management, told Bloomberg Business. "It's a stability, but stability with stagnation. I don't know how long they can coexist, but this seems to be the prognosis for now."

Brent crude oil dropped 19 percent from this year's high as the ruble went from the best-performing emerging market to its worst. Economic sanctions linked to the Ukraine crisis has curbed investment, and limited access for foreign markets has dampened speculation that recession will be milder than previously projected.

All total, the ruble declined 2.8 percent last week. The Bloomberg Russia-U.S. Equity Index slumped 4.7 percent to 52.10.

Oil prices, which entered a bear market last week after falling more than 20 percent since hitting its peak in May, are facing more "headwinds" beginning this summer, analysts say, The Wall Street Journal reported.

Baker Hughes Inc. also said last week the total number of rigs deployed in the onshore U.S. oil sector is down by more than 900 from last year.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





OIL AND GAS
Oil prices drop on Chinese woes
London (AFP) July 27, 2015
World oil prices slid on Monday to around four-month lows, hurt by poorly received economic data from China, the world's top energy consuming nation, traders said. A strong dollar and signs of increasing US oil production added further pressure to prices, which have already been depressed by a global oversupply of crude. US benchmark West Texas Intermediate (WTI) for September delivery f ... read more


OIL AND GAS
Novel scissor-like bridge structure for use during emergencies

Nepal quake forces 'living goddess' to break decades of seclusion

Latest US shooting sparks debate over military gun ban

Big city mayors tackle slavery, climate change at Vatican

OIL AND GAS
Russia, Brazil to track space junk with GLONASS

China's Beidou navigation system to track flights

Russia's GLONASS Proves More Than a Match for America's GPS

Russian, Chinese Navigation Systems to Accommodate BRICS Members

OIL AND GAS
Genetic studies link indigenous peoples in the Amazon and Australasia

The population history of Native Americans

Genome analysis pins down arrival and spread of first Americans

Archaeologists reexplore move from hunting, gathering to farming

OIL AND GAS
Oklahoma weather radar picks up massive Texas bug swarm

Bear alert: Russians warned off visiting cemetery

Dark plumage helps birds survive on small islands

Malaysia's 'black panthers' finally reveal their leopard's spots

OIL AND GAS
Lack of knowledge on animal disease leaves humans at risk

UN needs $20 million to battle bird flu in West Africa

Chemists help develop a novel drug to fight malaria

Ban says world on way to 'generation free of AIDS'

OIL AND GAS
Chinese police vanquish Spartan invasion of Beijing

Three "civil disobedience" activists in China subversion trial

Collector's fury as Chinese antiques returned from Paris

China artist Ai Weiwei says passport returned after four years

OIL AND GAS
Football: FIFA sets election date as Blatter finally rules himself out

Piracy, other maritime crimes rise in Southeast Asia

Mexico army ordered soldiers to kill criminals: NGO

Malaysian navy shadows tanker, urges hijackers to give up

OIL AND GAS
China manufacturing hits 15-month low: survey

Pollution not contagion: eurozone debt market survives Greek crisis

China bets on North Korea in gamble to save rustbelt

United Technologies hit by Chinese building stall




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.