Oil prices fell in thin trade as analysts said a weekend meeting of major oil exporters would do little to help to clear global oversupply quickly, even though it would provide a floor for the market.
Opec said its oil output fell in October and forecast supply from rival producers next year would decline for the first time since 2007 as low prices prompt investment cuts, reducing a global supply glut.
In a monthly report, the
Oil prices fell on Thursday, under pressure from rising supplies both in the United States, where inventories gained for a sixth straight week, and in Europe, where physical crude prices are nearing five-month lows.
Saudi Cement reported a 10.3 per cent drop in third-quarter net profit on Thursday, matching analyst forecasts.
The kingdom's largest cement company by market value said in a bourse filing its net profit fo
Oil prices fell back on Thursday after an early rally on fears of storm damage to US oil installations faded.
Brent, the global benchmark for oil, was down 20 cents, or 0.4 per cent, at $48.17 a barrel by 10:33
Oil prices fell on Friday after the US central bank warned on the health of the global economy and bearish signs persisted that the world's biggest crude producers would keep pumping at high levels.
The total demand for gold was 915 tonnes in the second quarter of the year, a fall of 12 per cent compared to the same period last year, due mainly to a decline in demand from consumers in India and China, according to a report.
Qatar's bourse fell sharply on Thursday, driven by news of criminal investigations against Fifa soccer officials as well as by profit-taking after an upgrade of some stocks by index compiler MSCI. Most other Gulf markets were also soft.
Brent crude oil steadied below $83 a barrel on Friday, consolidating after several months of sharp falls as the dollar hit a four-year high ahead of US jobs figures.
US non-farm payrolls data were due at 8:30 am EST (1330 GMT) on
Gold slipped on Wednesday after two days of gains as weak China trade data raised fears of an economic slowdown in the world's second-biggest consumer of the metal.
China has been a big support for gold pric