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The price of crude oil dropped to below $45 a barrel.
With the exception of Norway, oil exporting countries need oil prices at above $54, and most of them at above $100 a barrel for their country’s to be able to balance their budgets.
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Libya: $184
Iran: $131
Algeria: $131
Nigeria: $123
Venezuela: $118
Russia: $105
Saudi Arabia: $104
Iraq: $101
UAE: $81
Kuwait: $78
Qatar: $77
Norway: $40
(Data source: IMF and Deutsche Bank)
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