Stock markets in the Gulf States are getting crushed by low oil prices
REUTERS/Fahad Shadeed
Amid talk that the oil-rich countries of the Gulf Cooperation Council (GCC) enjoy a certain immunity to low oil prices—at least enough to keep the big boys of OPEC from becoming desperate enough to cut production—Gulf stock markets are not immune, and they’re falling right along with oil—hard and fast.
Since crude oil prices started their downward spiral in mid-June 2014, the Saudi Arabian TASI has dropped 39 percent, the Dubai Financial Market General Index... Читать дальше...