SAUDI STOCKS JUMP AS BIG OIL MEETING NEARS

Mario Nawfal

@MarioNawfal
🇸🇦SAUDI STOCKS JUMP AS BIG OIL MEETING NEARS

Saudi Arabia’s stock market went up by almost 1% after hitting a four-month low.

Big companies like Al Rajhi Bank and aluminum producer Al Taiseer saw their stocks rise, and oil giant Saudi Aramco also made small gains.

The excitement is because of an upcoming meeting of OPEC+, a group of countries that control much of the world’s oil supply.

They’re thinking about delaying plans to pump more oil in 2025.

This could affect oil prices everywhere, meaning what you pay for gas could change, too.

While Saudi stocks climbed, things weren’t as great in Qatar, where their stock market dipped slightly.

In Egypt, stocks rose, helped by a big jump from a major tobacco company.

Source: Reuters