• File- This April 16, 2016, file photo shows an oil pump working at sunset in the desert oil fields of Sakhir, Bahrain. Oil exporting countries in the Middle East lost a staggering $390 billion in revenue due to lower oil prices last year, and should brace for even deeper losses of more than $500 billion this year, the International Monetary Fund said Monday, April 25, 2016. (AP Photo/Hasan Jamali, File)

    IMF expects $500B revenue loss for Mideast oil exporters

    DUBAI, United Arab Emirates (AP) — Oil exporting countries in the Middle East lost a staggering $390 billion in revenue due to lower oil prices last year, and should brace for even deeper losses of more than $500 billion this year, the International Monetary Fund said Monday.