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Qatar budgeted oil price for $40 a barrel
Nov. 4, 2020
Source: worldoil.com

Qatar budgeted oil price for $40 a barrel

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.

IMF to provide financial support to Angola
Aug. 22, 2018
Source: Reuters

IMF to provide financial support to Angola

The second-largest oil producer of Africa, Angola, has been hit by the waves of lower oil prices which resulted in its failure of providing economic support to the country. The International Monetary Fund (IMF) informed on Tuesday that it would provide Angola the financial support, amount still undisclosed, as the country's economic growth has dropped down this year. The weaker economic conditions of Angola stopped many foreign countries from investing.

From riches to rags: Story of Venezuelan economy collapse
May 15, 2018
Source: Economic Times

From riches to rags: Story of Venezuelan economy collapse

Collapsing from $121 billion to $48 billion during 2014-16, the oil-dependent revenue has molten down terribly for the country of Venezuela. This has been summed up by IMF as “one of the worst crisis in the world” in the past 50 years. Venezuela is all set to face a presidential election this Sunday, May 20th, and this will greatly impact the country’s future strategies in the oil and gas domain.

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