TASI, the Worst ever Performer, last November -Jadwa Reported

TASI, Saudi stock exchange Tadawul main index, posted the highest monthly decrease, compared to other major global and regional indexes, according to Jadwa Investment company’s report.

while the index’s all components of  sectors declined, the “public utilities” and “durable commodities” sectors were the most impacted.

Both Brent blend, the world benchmark, and WTI of the western hemisphere prices declined by 2%, on a monthly basis, in November.

Indeed, the monthly slump obscures the significant drop in prices seen, in recent days, with Brent oil losing 11% per day, as soon as the Omicron variant was revealed. Looking ahead, despite the recent significant drop, Brent blend price projections were adjusted and raised to $71 per barrel, for in both 2021 remainder and throughout 2022, compared to earlier expectations of $67 and $65 per barrel, for the year remainder and the year, to come, respectively.

Kingdom’s average oil production hit 9.8 million barrels per day, in October, falling in line with OPEC+ agreed-upon output quotas.

Saudi oil output is predicted to average about 9.1 million barrels per day, for the entire Year 2021, before increasing by 14%, in 2022, to 10.3 million barrels per day.