Most Gulf bourses rise on higher oil prices; Egypt down – Reuters.com
- Date: 12-Feb-2023
- Source: Reuters
- Sector:Financial Markets
- Country:Egypt
Most Gulf bourses rise on higher oil prices; Egypt down – Reuters.com
Feb 12 (Reuters) - Most Gulf bourses closed higher on Sunday in response to Friday's oil price rise, driven by Russian plans to reduce crude production next month.
Oil, which fuels the region's economies, rose more than 2%, with Brent crude gaining $1.89 to $86.39 a barrel.
Russia plans to reduce crude production by 500,000 barrels per day (bpd) in March, or about 5% of its total output.
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