FXStreet (Mumbai) - As per Arabiya headlines on Bloomberg, Kuwait has decided to base its 2016/17 budget on oil price of USD 25/barrel. The nation expects 2016/17 budget deficit at 12.9 billion dinars. Most of the OPEC nations are expected to suffer massive budget deficits; given the sharp decline in the oil prices. Kuwait’s decision to base its budget on oil price of USD 25/barrel could reduce the a very low possibility of a sharp rebound this year. For more information, read our latest forex news.