Consultant group Wood Mackenzie said Thursday oil and gas companies in Russia are suited well to withstand any protracted slump in the crude oil market. Crude oil prices starting in June 2014 began a steady decline, dropping from levels above the $100 per barrel mark to below $50 per barrel in early 2015. This year in June, Russian Minister for Economic Development Alexei Ulyukayev said “the oil market has attained certain stability.” Analysis from Wood Mackenzie finds oil and gas producers in Russia break even near $60 per barrel. “Costs are largely ruble denominated and among the lowest in the world, underpinned by vast conventional domestic legacy production; and the ruble devaluation has cushioned the negative effect from the fall in oil […]