MIDEAST STOCKS-Major Gulf stocks fall as OPEC cuts oil demand forecast - Agricultural Commodities - Reuters:
Major Gulf stock markets retreated in early trade on Thursday after the Organization of the Petroleum Exporting Countries (OPEC) slashed its forecast again for global oil demand this year.
OPEC now expects global demand to contract by 9.07 million barrels per day, or 9.1%, in 2020, it said in a monthly report on Wednesday. Last month, OPEC expected a contraction of 6.85 million bpd.
Saudi Arabia’s benchmark index eased 0.2% in choppy trading. Banque Saudi Fransi slipped 3.7%, while petrochemical maker Saudi Basic Industries was down 1%.
The oil giant Saudi Aramco was trading 0.3% down at 31.25 riyals.
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