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IMF: Gulf Can Cope With Cheaper Oil

The Arab energy exporting states of the Gulf can cope comfortably with sliding oil prices, an International Monetary Fund official said on Tuesday, as a plunge in regional stock markets showed some local investors were panicking. Brent crude oil dropped below $60 a barrel on Tuesday for the first time since 2009, from around $115 as recently as June. If those levels persist next year, the six rich nations of the Gulf Cooperation Council will face the most dramatic change in their...

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