Oil prices rose in Asia after crude kingpin producer Saudi Arabia cut diplomatic ties with Iran following a row over the Saudi execution of a Shia cleric.
A rise in Iran's crude oil exports once sanctions against it are lifted depends on future global oil demand and that should not further weaken oil prices, a senior Iranian oil official said.
Oman will cut spending this year by 15.6% in the face of lower oil prices but still faces a huge deficit after posting one in 2015.
Oil prices rebounded in Asia Thursday on bargain-hunting on the last trading day of 2015 following a sharp decline fuelled by an unexpected rise in US commercial stockpiles.
Qatar Stock Exchange continued to be under bullish momentum for the third consecutive day as its key index gained 42 points ...
