Poorer oil-producing countries which took out loans to be repaid in oil when the price was higher are having to send three times as much to respect repayment schedules now prices have fallen. This has crippled the finances of countries such as Angola, Venezuela, Nigeria and Iraq and created a further division within the Organization of the Petroleum Exporting Countries. Ahead of an OPEC meeting next week, poorer members have continued to push for output cuts to lift prices but wealthier Gulf Arab members such as Saudi Arabia, which are free of such debts, are resisting taking any action despite prices falling 60 percent in the past 2 years. Angola, Africa’s largest oil producer has borrowed as much as $25 billion from China since 2010, including about $5 billion […]