By: Mahmoud Gamal

Mubasher: The GCC stock markets are expected to see a volatile performance on Tuesday, following disappointment over the Organization of Petroleum Exporting Countries' (OPEC) output agreement, analysts told Mubasher.

OPEC and non-OPEC members have agreed to extend cuts in oil output for nine months to March 2018.

The GCC markets suffered losses in the past sessions after OPEC’s output agreement as disappointed investors were anticipating deeper cuts, leading to a significant slide in crude prices, capital market analyst Mohamed Al Azmi told Mubasher.

The approach of oil prices to the resistance level of $49 per barrel will push the markets to fluctuate amid the control of speculators, according to financial analyst Mahmoud Abu Zeid. 

Translated by: Julian Nabil