Google+ Followers

Wednesday, 30 November 2016

MIDEAST STOCKS-Gulf mixed in early trade before OPEC decision | Reuters

MIDEAST STOCKS-Gulf mixed in early trade before OPEC decision | Reuters:
"Saudi Arabia's stock market edged up in early trade on Wednesday while other Gulf bourses were mixed ahead of an OPEC decision expected late in the day on proposed oil production cuts to prop up prices.

Most analysts believe the Organization of the Petroleum Exporting Countries will cobble together a deal to reduce some production at its meeting on Wednesday in Vienna, which starts at 1000 GMT.

But there is a lot of uncertainty on the terms of the deal and whether it will have much long-term effect on the oil market, and in this environment, many institutional funds have been cutting back activity, leaving Gulf stock markets to focus on short-term trade by retail investors."

'via Blog this'