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Cash-rich Gulf states set to ride out oil-price plunge

Curbing output may help to halt price decline, but it'll leave GCC oil producers at risk of losing market share

The six Gulf Cooperation Council countries have based their budgets on an oil price of US$80 a barrel or less.

Kuwait City

ENERGY kingpin Saudi Arabia and other wealthy Gulf states are set to resist pressure to tighten the taps significantly to shore up oil prices as the global economy stumbles, analysts say.

Oil prices have fallen by a quarter since June as excess supply and weaker demand...

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