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Report: Energy producers in Middle East to earn billions less in oil revenues

The International Monetary Fund's prediction that was reported by The Associated Press is the latest negative outlook for Middle Eastern economies.

The International Monetary Fund (IMF) provided another bleak outlook for oil-producing Middle Eastern economies today.

The IMF said on Monday it expects energy-producing countries in the Middle East will rake in $270 billion less in oil revenues than last year. The COVID-19 pandemic and oil price crisis will make the states’ economies contract by 7.3% overall, the international financial body predicted.

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