Have-nots of oil world scramble for cover after Opec decision

Their budgets are built around a price scenario now radically unrealistic


NOT all oil giants are created equal, as struggling Venezuela, Nigeria, Iran and Russia are painfully made aware in the wake of Opec's divisive decision to maintain production levels. Last week's decision to keep output at 30 million barrels a day has sent oil prices tumbling to five-year lows and split the 12-country cartel and other major producers between the haves and the have-nots.

While well-heeled Opec members are playing a long game to protect their market share in the face of a...


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