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No Sign Saudi Arabia Will Ride to Oil Market Rescue

Low oil prices have pushed top exporter Saudi Arabia to hasten difficult economic reforms and cut spending on popular benefits, but it has few options beyond sticking with a strategy to defend its market share - no matter how low prices sink. A return of Iranian crude to the market after sanctions were lifted may now plunge prices to new lows after a 19-month drop of 76 percent that caused Riyadh's $54 billion fiscal surplus in 2013 to swing to a $98 billion deficit last...

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