INTERNATIONAL FINANCE | The Kingdom of Saudi Arabia is expected to face decline in oil revenue by $38.5 billion on the back of the Opec+ decision to cut. After a series of discussions, Opec+ and other oil producing countries have decided to slash oil production on the back of the Cover-19 pandemic. The decision is based on reduced oil demand globally. According to the decision, 9.7 million barrels per day will be slashed. This is effective May 1 2020 for a period of two months, media report said.