MIDEAST STOCKS-Gulf stocks move sideways; Saudi gains ahead of OPEC+ meet - Reuters:
Major stock markets in the Gulf moved sideways on Wednesday, with the Saudi index edging up ahead of a meeting on the future level of oil output cuts by the Organization of the Petroleum Exporting Countries (OPEC) and its allies.
Key members of OPEC and allies including Russia, collectively known as OPEC+, are set to decide whether to extend output cuts of 9.7 million barrels per day (bpd) that end in July or ease them to 7.7 million bpd.
The benchmark stock index in Saudi Arabia, the de facto leader of OPEC, added 0.3%. Al Rajhi Bank rose 0.5%, while National Commercial Bank was up 0.7%.
In Qatar, the index gained 0.5%, buoyed by a 1.3% rise in petrochemical firm Industries Qatar and 1% increase in Qatar Islamic Bank.
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