Opec countries lose $500 million a day in oil price crash

LONDON: With oil erasing over a third of its value overnight after a messy breakup of the Opec+ alliance, Opec members are bleeding over half a billion dollars a day in lost revenue, according to Reuters calculations.

For the most part, oil is a top income source for members of the Organization of the Petroleum Exporting Countries and such a dramatic fall in prices will put strain on their economies, some of which such as Iran and Venezuela, are already on the brink.