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Oil Breaks Above $80 Per Barrel

This week Brent crude oil broke above $80 per barrel for the first time since November 2014, reaching a 52-week high. Joanna Sawicka, emerging Europe research analyst, explains how countries that rely heavily on oil production for revenue, such as Russia, could stand to benefit from rising prices. Russia is the world’s number two producer of crude oil, just ahead of Saudi Arabia and second to the United States. The Russian ruble and equities historically track the price of oil and can appreciate when crude trades higher.

For Joanna’s full explanation, watch the video below!

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All opinions expressed and data provided are subject to change without notice. Some of these opinions may not be appropriate to every investor.

The MOEX Russia Index is a capitalization-weighted composite index calculated based on prices of the most liquid Russia stocks of the largest and dynamically developing Russian issuers presented on the Moscow Exchange.

The MICEX Oil & Gas Index is a capitalization-weighted composite index tracking oil and gas companies in Russia listed on the Moscow Exchange.

Gross Domestic Product (GDP) is the monetary value of all the finished goods and services produced within a country’s borders in a specific time period, though GDP is usually calculated on an annual basis. It includes all of private and public consumption, government outlays, investments and exports less imports that occur within a defined territory.