Wednesday 17 February 2016

MIDEAST STOCKS-Saudi rises before oil meeting, Egypt firm | Reuters

MIDEAST STOCKS-Saudi rises before oil meeting, Egypt firm | Reuters:

"Saudi Arabia's stock market rose on Wednesday before an oil producers' meeting that could help support crude prices, while Egypt's bourse was aided by a firm global tone for equities. Most Gulf markets were little changed.

Iran's oil minister was meeting his counterparts from Iraq, Qatar and Venezuela in Tehran on Wednesday afternoon to discuss a proposal for major producers to freeze output at January levels.

Even if an agreement can be reached, many investors doubt it will be respected in the long term, or that it will boost oil prices much."



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