IMF’s Lagarde Says Oil May Stay Low for Longer Than Expected

  • Gulf Arab states should raise taxes to make up for oil losses
  • Crude supply-demand signals low prices for `extended period'

Oil Freeze: Locking In High Supplies, Low Prices

Crude prices will probably stay low for longer than expected, International Monetary Fund Managing Director Christine Lagarde said, urging Gulf Arab oil-producing countries to cut spending and boost revenue through new taxes.

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