Skip to content
Friday 21 August 2026London --:--Frankfurt --:--Zurich --:--
NewslettersSearchEN · DE · FR
MorningWire

European business, markets and politics

FTSE 100
10,816.56
+0.64%
DAX
26,136.56
+0.59%
CAC 40
8,484.43
+0.37%
STOXX 50
6,462.22
+0.63%
  • Europe
  • Markets
  • Business
  • Economy
  • Regulation
  • Politics
  • Opinion
More
GermanyFranceEU InstitutionsCompetitionPublic AffairsBankingTechnologyEnergy
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Economy
  • Regulation
  • Politics
  • Opinion
  • DE
Friday 01 April 2016 9:51 am

These are the “fragile five” Opec members that could collapse if oil prices don’t stabilise

By: Jessica Morris

Add as a preferred source on Google

There are five members of the Organization of the Petroleum Exporting Countries (Opec) which risk collapsing if oil prices fails to stabilise.

Brent crude has tumbled from over $110 in the middle of 2014 to around $40 today, largely due to a chronic supply glut. This has heaped pressure onto the balance sheets of some of the world's biggest producers.

The Royal Bank of Canada (RBC) has singled out Algeria, Iraq, Libya, Nigeria and Venezuela as those most at risk. 

It said that the producers are fighting to stay afloat by slashing spending, running down reserves and borrowing.

Iraq and Angola

"Iraq and Angola, two of the more stressed producers, have announced plans to slash capital spending this year by 39 per cent and more than 50 per cent respectively."

"In January, Iraq signed onto to an IMF staff monitored program in the hopes of securing $6-7bn in direct budgetary support and is reportedly looking to revive plans to issue $2bn in Eurobonds this year.

"Also, Angola opened discussions with the World Bank about obtaining new funding"

Algeria

"Algeria, which saw its budget deficit nearly double from 6.2 per cent in 2014 to 11.5 per cent in 2015, has just announced plans to issue local debt and is also seeking Chinese financing for key infrastructure projects."

Nigeria

"Nigeria, which like Iraq is also coping with the twin challenges of a fiscal crisis and a virulent extremist threat, has also approached the World Bank and the African Development Bank for $3.5bn (£2.4bn) to meet its severe budget shortfall."

Venezuela

"Since 2007, Venezuela has borrowed more than $50bln from China through oil for loan agreements."

Share this article

  • Facebook
  • X
  • LinkedIn
  • WhatsApp
  • Email

Similarly tagged content:

Sections

  • Markets & Economics

Categories

  • Markets

Trending Articles

  • House prices in wealthy London boroughs fall by up to £300,000

  • As it happened: Miners fuel FTSE 100 recovery; oil jumps as Trump claims Strait of Hormuz

  • City law firm sues prominent Emirati business family

  • Amanda Blanc has worked her magic at Aviva

  • As it happened: FTSE 100 rallies after JD Sports drags on blue chips; oil jumps again

More from Morning Wire

  • As it happened: Stocks jittery as oil nears $90; Trump ‘semi-negotiating’ with Iran

    FTSE 100 Live
    Large oil tanker navigating a strait under a cloudy sky, impacting oil prices and global trade.
  • As it happened: FTSE 100 drops as Antofagasta prompts miner sell-off; oil prices cool

    FTSE 100 Live
    Glencore floated on the London Stock Exchange in 2011 and is one of the largest members of the FTSE 100.
  • Trump warns Iran: ‘We’re going to beat the f***ing s*** out of them’

    Politics
    Donald Trump speaking at press conference podium, addressing media with serious expression, American flags in background
  • As it happened: Stocks slide despite tech and data boost; Oil falls after OPEC+ ups output

    Markets
    Samsung has missed earnings expectations
  • UK borrowing costs surge as Trump declares Iran ceasefire over

    Economics
    Breaking news event coverage with diverse group of people engaging in discussion at a business meeting or conference.
  • Oil price falls but Trump and Iran clash on negotiations claim

    Markets
    Donald Trump smiling in a blue suit and tie with an American flag pin, US flag in background
  • Fielden: Crafting a modern whisky brand

    Whisky
    Hand holding Fielden Whisky of England Rye Whisky bottle amidst green rye field.
  • Bank of England holds interest rates but warns of rises to come

    Economics
    Bank of England headquarters in 2025, showcasing modern architecture and iconic London skyline in the background.
MorningWire

Independent European business, markets and political news for decision-makers.

Morning Briefing

Europe

  • Germany
  • France
  • EU Institutions
  • Europe

Business

  • Markets
  • Business
  • Economy
  • Regulation
  • Competition
  • Public Affairs

Editorial

  • Opinion
  • Editorial Policy
  • Corrections
  • Contact

Company

  • About Morning Wire
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
© 2026 Morning Wire Ltd · Published by Morning Wire Media, Bahnhofstrasse 65, 8001 Zürich, Switzerland
Privacy · Terms · Cookies · Facebook