An oil worker shovels at a facility site in the desert oil fields of Sakhir, Bahrain, Monday, Dec. 7, 2015. (AP Photo/Hasan Jamali)
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Middle Eastern stocks were among the world's biggest decliners after OPEC's failure to limit output amid a global supply glut pushed the commodity to the lowest level in almost seven years this week.The GCC is home to about 30 percent of the world's proven oil reserves. Dubai's DFM General Index dropped to the lowest level in two years as 214 million shares traded, about half the 12-month full daily average. The Tadawul All Share Index in Saudi Arabia, home to the lion's share of the region's oil, fell 2.5 percent.
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