The Kingdom Centre Tower is seen in Riyadh, Saudi Arabia, December 18, 2017. REUTERS/Faisal Al Nasser
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Saudi Arabia's plan to halt the oil-price rally could hurt its economy, depriving the kingdom of billions of dollars in income that it needs more than many other OPEC members. Although the country's economy isn't the most reliant on crude exports among the group's five biggest producers – Kuwait gets that award – Saudi Arabia is the only member that will post a significant budget deficit despite higher-than-expected oil prices this year, according to Bloomberg calculations based on International Monetary Fund data. Saudi Arabia needs a price of $87.90 a barrel to balance its budget this year, according to the IMF, which forecasts crude to average $62.30 a barrel in 2018 .
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