Mideast Stocks: Gulf stocks gain as oil prices rebound | ZAWYA MENA Edition:
Major Gulf stock markets rose in early trade on Tuesday on the back of a rebound in oil prices and a string of positive corporate earnings' announcements.
Oil Prices were 1% higher after slumping the previous session, amid hopes for new production curbs by OPEC and its allies to offset any drop in future fuel demand that might be triggered by China's coronavirus outbreak.
Sources told Reuters on Monday that the group, known as OPEC+, was considering a further cut in oil output of 500,000 barrels per day (bpd).
Saudi Arabia's index rose 0.3% led by a 0.7% gain at National Commercial Bank.
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