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A gauge of petrochemical companies slid to the lowest level since July 2009 . The kingdom reduced energy subsidies and intends to cut spending in 2016 to 840 billion riyals ($224 billion) from 975 billion riyals this year. Saudi forward contracts, which are used to bet whether Saudi Arabia will allow its dollar-pegged currency to weaken in the next 12 months, jumped 280 points to 755 points.Yanbu National Petrochemical Co., retreated 7.6 percent to the lowest level since February 2010 .
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