International Economics: IB Economics

Just a quick peek at the distributional effects of the fall in oil prices, with some countries more dependent than others on oil for growth, employment and to fund government spending. In short, net oil exporters are likely to suffer to varying degrees, but oil importers are likely to benefit.

There's a suggestion that the worst hit economies will be Ecuador, Nigeria and Iraq, but even producers with relatively low costs, such as Saudi Arabia appear likely to struggle if oil prices remain this low for any length of time.