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Gulf shares slump after OPEC disagrees on virus response

Shares in the energy-dependent Gulf plunged to multi-year lows Sunday after OPEC and its allies failed to clinch a deal on production cuts to support prices that have been hit by the novel coronavirus. The Saudi stock market, the largest in the region, dived by 7.7 percent minutes from the...

OPEC, allies fail to reach deal on oil production cuts

OPEC and its allies failed to reach a deal on oil production cuts Friday, after Moscow refused to tighten supply to counter the effects of the coronavirus outbreak. The day before, OPEC ministers had recommended reducing output by 1.5 million barrels per day in face of the global slowdown...