FINANCIAL TIMES 🔒| Even before this week’s collapse in crude prices, the hit to the global economy from coronavirus had forced the world’s leading oil-producing nations to slash spending and re-work their budgets. Now it has just got worse. Brent crude dropped below $20 per barrel on Tuesday for the first time in 18 years, while other major benchmarks across the world also tumbled. As a result, policymakers in countries that are dependent on petrodollars for their public finances are facing an acute crunch.
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