Gulf Arab nations that rely on energy for most of their revenue will benefit if oil prices rise, though their long-term fiscal health hinges on how well they use this opportunity to wean their economies off crude, an International Monetary Fund official said. Saudi Arabia , the world’s biggest oil exporter, and its Arab neighbors have drawn up plans to diversify their economies since benchmark Brent crude tumbled from more than $115 a barrel in June 2014 to as little as $28 in January. Brent has staged a partial recovery, trading Wednesday at about $55, and while this may make reforms less difficult, the need for restructuring remains crucial, said Natalia Tamirisa, an IMF economist. The price rally “has provided some breathing space, has eased financial pressure on these countries,” Tamirisa said Wednesday at a conference in Dubai. Even so, “oil exporting countries will continue to run fiscal deficits […]