Top Oil Producing Countries

[El Almeja]

Just an interesting article I read recently about the top oil producing economies and where they are headed for the rest of this year in light of the low oil price environment the world finds itself in.

 

http://goo.gl/HyNidf

[geared]

Several of the large producers have their budgets massively dependent on higher oil prices, they've done well will with the price boom over the last decade so controlling spending wasn't really anything they bothered with.

 

Now the price has collapsed and they're flapping around like a headless chicken.

 

How quick and effectively they can re-balance their budgets and economy will be the real telling factor, they should probably look to Dubai and Norway who took oil money and pumped it into other areas of their economy, moving from a heavily oil dependent economy to a much more balanced one.

[jfish1936]

I thought many oil producers hadmoved their oil money into other areas, like the Swiss bank accounts of their leaders.