Russia needs to ensure its economy is braced for an oil shock in either positive or negative terms, a deputy at the International Monetary Fund said. Russia is party to a joint agreement with the Organization of Petroleum Exporting Countries to trim output in an effort to balance a supply-side market that’s putting negative pressure on crude oil prices. David Lipton, a deputy director at the IMF, said in an interview with Russian news agency TASS that, given the uncertainty surrounding compliance with the agreement, economic planners at the Kremlin had to prepare for an either-or scenario. “The Russian economy is going to be affected by oil market developments for sure, and it’s possible that positive shock of […]