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.
more than 2%, with Brent crude gaining $1.89 to $86.39 a barrel.to reduce crude production by 500,000 barrels per day in March, or about 5% of its total output.
Also positive for prospective oil revenues, OPEC Secretary General Haitham Al Ghais said on Sunday the group expects oil demand to exceed pre-pandemic levels this year, reaching almost 102 million barrels a day.edged up 0.1%, lifted by gains in energy, consumer and real estate sectors.
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