MIDEAST STOCKS-Markets dip again on oil price concerns | News by Country | Reuters:
"Most Gulf stock markets fell further on Thursday as investors' hopes that OPEC would cut oil output to boost prices waned, while Egypt's bourse rose as Cairo's government eyed savings from cheaper crude.
Brent crude fell $2 to a 50-month low under $76 after Saudi Arabian Oil Minister Ali al-Naimi told reporters late on Wednesday that the Gulf's oil exporters had reached a consensus and would not propose output cuts. OPEC members met in Vienna on Thursday.
"Definitely, the speech from the Saudi oil minister did not help," said Ali Adou, portfolio manager at The National Investor in Abu Dhabi.
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