Oil Losses at $300b

Oil Losses  at $300bOil Losses  at $300b

Losses from lower oil exports should sap up to $300 billion from economies in the Middle East and Central Asia this year, as countries in the region adjust to falling crude prices, the International Monetary Fund said. Economies that are particularly dependent on oil exports, including Qatar, Iraq, Libya and Saudi Arabia, will be hit hardest by the decline in petroleum prices, the IMF said in an update to its outlook for the Middle East and Central Asia, TradeArbia reported.