Saudi ends higher on oil prices; most Gulf markets in red - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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Saudi Arabian stocks climbed on Sunday in response to Friday’s rise in oil prices, while most other bourses in the Gulf were in the red on global economic concerns.

Saudi woman walks at the Saudi stock market , in Riyadh, Saudi Arabia March 9, 2020.

Russia may cut oil output by 5% to 7% in early 2023 as it responds to price caps, the RIA news agency cited Deputy Prime Minister Alexander Novak as saying on Friday. The Saudi bourse could maintain a stronger profile this week if oil prices continue to move to the upside, said Daniel Takieddine, CEO MENA at BDSwiss.The blue-chip index in Qatar – among the world’s top exporters of liquefied natural gas – dropped 0.6%, hit by a 1.2% fall in Qatar Islamic Bank .

 

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