{"id":6006,"date":"2015-02-25T07:08:17","date_gmt":"2015-02-25T12:08:17","guid":{"rendered":"http:\/\/olduvai.ca\/?p=6006"},"modified":"2015-02-25T07:08:17","modified_gmt":"2015-02-25T12:08:17","slug":"oil-price-crash-top-5-at-risk-countries","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=6006","title":{"rendered":"Oil Price Crash: Top 5 At-Risk Countries"},"content":{"rendered":"<h3><a href=\"http:\/\/oilprice.com\/Energy\/Oil-Prices\/Oil-Price-Crash-Top-5-At-Risk-Countries.html\" target=\"_blank\">Oil Price Crash: Top 5 At-Risk Countries<\/a><\/h3>\n<p><em>Since June 2014, global oil prices have dropped by more than 50%. The drop could strongly affect the economic and political stability of these five oil exporting countries.<\/em><\/p>\n<p>Oil prices make winners and losers. In general, oil importers will gain from low prices, while most oil exporters will suffer. Still, there are differences. While the United States, Norway, and the Gulf States can protect themselves with diversified economies and high hard currency reserves, the oil shock could bring some countries to the verge of economic default and political crisis.<\/p>\n<p><em><strong>Venezuela<\/strong><\/em><\/p>\n<p>Venezuela entered the period of low oil prices with an already frail economy ruined by the more than a decade-long socialist regime of Hugo Chavez and his successor Nicolas Maduro. The oil price slump significantly worsened the country\u2019s already failing economy.<\/p>\n<p>More than 90 percent of Venezuela\u2019s exports and hard currency reserves depend on oil, and with the price of oil 50 percent down, the country is close to a default.<\/p>\n<p>Standard &amp; Poor\u2019s is the last in a line of rating agencies that downgraded Venezuela\u2019s credit rating to junk status and the country\u2019s currency is experiencing a constant\u00a0<a href=\"http:\/\/globalriskinsights.com\/2015\/02\/failed-coup-diverts-attention-from-currency-devaluation-in-venezuela\/\">devaluation trend<\/a>. At the same time,\u00a0<a href=\"http:\/\/www.wsj.com\/articles\/venezuela-defense-chief-pledges-loyalty-as-government-says-coup-plot-foiled-1423879011\">inflation is expected to rise<\/a>\u00a0to 200 percent this year and the economy to shrink by 7 percent.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil Price Crash: Top 5 At-Risk Countries Since June 2014, global oil prices have dropped by more than 50%. The drop could strongly affect the economic and political stability of these five oil exporting countries. Oil prices make winners and losers. In general, oil importers will gain from low prices, while most oil exporters will [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[441,442,571,1135,1650,592,1775,690,694,851],"class_list":["post-6006","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-iran","tag-iraq","tag-nigeria","tag-oil-exports","tag-oil-imports","tag-oil-price","tag-oil-price-collapse","tag-risk","tag-russia","tag-venezuela"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6006","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6006"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6006\/revisions"}],"predecessor-version":[{"id":6007,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6006\/revisions\/6007"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6006"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6006"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6006"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}