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Sunday, 28 May 2017

MIDEAST STOCKS-Gulf bourses edge down after OPEC deal; Qatar's Ezdan continues slide | Reuters

MIDEAST STOCKS-Gulf bourses edge down after OPEC deal; Qatar's Ezdan continues slide | Reuters:

"Most Gulf stock markets edged down in early trade on Sunday after global oil producers agreed on Thursday to extend cuts in output by nine months to March 2018. Trading volumes were thin, partly because of the start of the holy month of Ramadan.

Many in the markets had been hoping for stronger action by OPEC to push up oil prices, such as a deal to deepen the production cuts or extend them further until mid-2018.

Saudi Arabia's stock index dropped 0.4 percent during the first 45 minutes in a broad-based decline, with 120 shares falling and 13 gaining."



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