Russian GDP sank 3.7% for 2015, slightly better than the 3.8% forecast. According to the world bank, Russian GDP was supposed to contract by 2.7%–based on $58 crude.
WRONG.
Their projections for 2016 is Russian growth of 0.7%, based on $63.6 crude.
Why the 60 cents, though?
The Russian Ruble is holding its own and has recovered from all time lows v the dollar of $84, just last week.
However, over the past year, the Ruble has been vaporized.
Plans are afoot to rename it the “rubble”.