OPEC States Tighten Their Belts After Oil Rout, in Theory: Chart

Oil Tempers Biggest Drop in Three Weeks

Members of the Organization of Petroleum Exporting Countries are tightening their belts as they learn to live in an era of cheaper oil -- at least, in theory. Having enjoyed several years of prices above $100 a barrel, their budgets for this year assume oil will range from $25 a barrel (Kuwait) to $45 (Iraq, Angola), in line with current levels after crude’s 76 percent plunge. Whether countries stick to these austere intentions is another story: Deutsche Bank AG says that to cover the amounts they’ll actually spend, members like Iran and Nigeria will need a price closer to $80.

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