Markets

Middle East Shares Mostly Dip As Oil Declines on Production Comments

Middle East shares mostly eased as oil prices dropped after the White House said the leader of Saudi Arabia promised President Donald Trump he could raise oil production, if needed.

Dubai also saw selling amid concerns over exposure of Dubai-listed companies to troubled private equity firm Abraaj which this month filed for provisional liquidation.

Saudi Arabia's main index dipped 0.8% to 8,275 points, Dubai slumped 1.2% to 2,829 points, Abu Dhabi

dropped 1% to 4,577 points, Qatar firmed 0.3% to 9,142 points, Kuwait edged up 0.2% to 4,926 points, Bahrain slipped 0.3% to 1,310 points, Oman eased 0.1% to 4,556 points and Egypt was flat at 16,362 points.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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