Interviews From Caracas - Effect of Fall in Oil Prices

teleSUR English 2015-01-14

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Oil prices have plummeted to five year record lows, at under US$50 per barrel. In oil producing countries such as Venezuela and Russia this can have a huge impact on public finances, largely dependent on such revenue. In today's program, Cody Weddle interviews oil analyst David Paravisini, who discusses the economic and political reasons and forces behind the fall in prices, prospects for international oil prices, the role of the different market players, the differences and similarities between the current crisis and the drop in prices in the 1990s, and how the decline in prices effects petroleum importing countries. teleSUR

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