[kraznyi_oktjabr]

Originally Posted by Oberon

After that, their economy might start to pick up, perhaps when the oil prices finally spike back up like people expect that they will eventually, that's if the sanctions aren't reapplied by someone before then.

Primary reason to very low oil prices is that Saudi Arabia is dumping it into market in volumes and at low prices. At my understanding there is two reasons for this: a) to keep Iranian oil revenues low and b) to inhibit develompent of U.S. oil industry. Saudis ofcourse suffer themselves too and as result of lower oil revenue their budget deficit is huge. However they have opted to solve issue by cutting spending rather than curbing oil production so I wouldn't expect any oil price spikes in many years.