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Tuesday, March 31, 2020 1:33 GMT
S&P Global Ratings cut the rating of the government of Kuwait by one notch this week due to the economic and fiscal effects of lower oil prices, but affirmed those of Qatar citing the country's strong financial buffers. Oil prices have dropped by more than 40% since March 6 when an Opec output cut agreement collapsed triggering a market share war between Saudi and Russia. S&P has since halved its oil price assumption for 2020 from an average of US$60 per barrel to US$30. Lower prices are...More