Fitch: adjust the budgets of oil exporters reveal the price risk

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Fitch: adjust the budgets of oil exporters reveal the price risk

 

      Tuesday   25   November   2014 | 13:15

 

 

 

 

The risk of lower oil prices .....

 

Fitch credit rating reported blame Tuesday necessary to adjust the budgets of exporting raw countries oil prices reveal various risks from low price levels, Fitch added that the decline in oil prices will affect primarily on the fundamentals of credit sovereign ratings because of its implications for financial and business to those situations countries. The focus greater risks in the countries that need high oil prices to achieve the equivalent of revenues and expenditures in their budgets, which are already suffering from a deficit in the light of current prices, such as Bahrain, Angola and Venezuela. categorized Agency Kuwait, Abu Dhabi and Norway within at least Category affected because of the huge reserves, which formed in the past The latter said it will continue to achieve financial surpluses and external standard and strengthen reserves even if prices have stabilized at current levels. and belong to the third category of those countries to be paid by low oil prices towards a deficit in the 2015 levels after they had surpluses or had their budgets semi-disciplined. For those countries, the ratings may come under increasing pressure in 2015 prices did not recover but the speed of this happening and extent will depend on factors such as the size of the existing reserves and the impact of the decline in oil-dependent trade commodities and actions economies in the face of that. The intervention of Saudi Arabia and Russia in that category. Oil prices have fallen decline sharp as Brent crude down from $ 115 a barrel in mid-June, is currently approaching $ 80.