Today, Win Thin, emerging markets at Brown Brothers Harriman, said on Bloomberg Radio that Russia is essentially an oil economy, and that while not long ago its budget break-even was as $45 per barrel of Brent Crude Oil; the break-even now is about $117.

That is quite significant given the current Brent price and the price history.

This chart plots the price of Brent and the percentage performance of the Russia stock ETF (RSX).

This entry was posted on Wednesday, March 7th, 2012 at 1:13 PM and is filed under News Items. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.