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Qatar has decided to base its budget at an oil price of $40 a barrel. The move came as a repercussion for the impacted finances of this year. Though Qatar was able to counter the market collapse better than its neighbors still some deficit forecasts were released. The IMF has projected a gross domestic product fall of 4.5% for Qatar this year whereas Bloomberg estimated a 7.2% deficit for the same.
Letters are sent to 24 of the biggest oil-trading and refining companies by a panel of UNSC to disclose the actions they are taking to stop the sale of crude oil and petroleum products to North Korea in violation of sanctions. The panel is established in response to restrictions against the country. The concerned companies are given a month to respond as learnt by Bloomberg News.
