tag

Kuwait Bourse closed trading on Tuesday as the All Share Index gained 72.42 points to reach 8,712.18 points, an increase of 0.84 percent.As many as 455 million shares valued at KWD 116.9 million (roughly USD 356.5 million) were traded via 27,306 transactions.The Main Market Index went up by 40.42 points to reach 7,881.67 points, up by 0.52 percent, through 223.18 million shares done via 14,110 transactions valued at KWD 39.9 million (roughly USD 121.6 million).The Premier Market Index gained 83.99 points to reach 9,349.85 points, up by 0.91 percent, through 231.9 million shares done via 13,196 transactions valued at KWD 77 million (roughly USD 234.8 million).Meanwhile, the bourse Main 50 Index went up by 71.06 points to reach 8,076.77 points, up by 0.89 percent, through stock volume of 177 million shares done in 8,905 deals at a value of KWD 31.9 million (roughly USD 97.2 million).

Eight Opec+ countries to meet on SundayOpec+ could also pause hikes for October, source saysNo immediate comment received from Opec or Saudi authoritiesEight Opec+ members will consider further raising oil production at a meeting on Sunday, two sources familiar with the discussions said, as the group seeks to regain market share.Opec+ has reversed its strategy of output cuts from April and has already raised quotas by about 2.5mn barrels per day, about 2.4% of world demand, to boost market share and under pressure from US President Donald Trump to lower oil prices.But those increases have failed to bring down oil prices, which traded near $68 a barrel supported by Western sanctions on Russia and Iran, encouraging further production gains in rivals such as the US.Another output boost would mean Opec+, which pumps about half of the world's oil, would be starting to unwind a second layer of cuts of about 1.65mn barrels per day, or 1.6% of world demand, more than a year ahead of schedule.Eight Opec+ countries are due to hold an online meeting on Sunday expected to decide on October output.Opec+ includes the Organisation of the Petroleum Exporting Countries plus Russia and other allies.There is also a chance, some analysts and an Opec+ source said, that Opec+ could pause the increases for October. A final decision has not been made, the Opec+ source said.Opec headquarters and authorities in Saudi Arabia did not immediately respond to requests for comment.Brent crude was trading near $68 on Wednesday, down over 1% on the day but up from a 2025 low of near $58 in April.As well as sanctions, the Opec+ hikes falling short of the pledged amounts have also supported prices, analysts have said.Until April, Opec+ had been curtailing production for several years to support oil prices.At their last meeting in August, the eight members raised production by 547,000 bpd for September, completing a total increase in output for the year of 2.5mn bpd. That included a 300,000 bpd additional production allocation for the UAE.The next output cut layer of 1.65mn bpd is in place until the end of 2026, as is another 2mn bpd of cuts by the whole group.