As oil prices dip to a 13-year low of around $30 per barrel, many of the world’s petro-states could see hundreds of billions dollars more shaved off their revenue streams in the coming months. The question now is, how long each of these countries can sustain their economies and stave off political unrest – a calculation that is about more than just oil. Traditionally, the producers under the most pressure from oil price dips are those that are already facing domestic political turmoil and have few fiscal buffers at their disposal – such as reserve funds, the ability to go to international markets and raise loans, and a credible currency. By that measure, the worst-hit countries would be Algeria, Iraq, Libya, Nigeria and Venezuela – the “Fragile Five,” as analysts at RBC Capital Markets called them in a report last August. But it isn’t just fragile countries that are […]