Fragile oil-producing countries such Iran, Iraq, Libya, Russia and Venezuela face increasing instability due to low oil prices, according to Aon’s latest Political Risk Map.

The map shows this year will be particularly challenging for oil producers in the Middle East and Africa, most of which already have high or very high risk ratings.

“The effectiveness of extremist groups… will be amplified in afflicted countries that lack the resilience to absorb economic shocks,” Aon Risk Solutions says.

Egypt, Tunisia and Morocco should benefit from cheaper oil imports, but face increased security risks because of political power vacuums in Iraq, Libya and Syria.

The low oil price also casts a shadow over Russia’s larger regional trading partners such as Belarus and Kazakhstan.

Head of Political Risk Matthew Shires says the map helps organisations determine emerging market investment strategies.

“Businesses need to constantly monitor their exposure to political risk such as the impact of oil price uncertainty and political instability.

“The Aon Political Risk Map allows our clients to do exactly that.”