According to the information published by The Wall Street Journal, Iran, Iraq and Saudi Arabia are going to cut their oil prices next month. Experts say this is a forced step since lower prices are required to preserve their share of the Asian market.
In particular, we should pay attention to the fact that Goldman Sachs analysts already predict ultra-low oil prices around $20/b at some point in the near future. This is a prediction for 2016 rather than 2015.
It is common knowledge that the Russian economy heavily depends on the export of crude oil and natural gas. Based on the current situation in the global market of crude oil, the international expert community sure that if the price of crude oil goes below $22,5 per barrel, the Russian economy and financial system will crash.