Kuwaiti crude oil was traded at a price of US$83.03 per barrel.
Kuwait is the fourth-largest producer of crude oil in the world, and its price movements have a direct effect on global oil markets. Kuwaiti crude oil
In February, Saudi Arabia’s industrial production saw a 6% increase, driven by mining and manufacturing activities.
Saudi Arabia’s industrial production rose 6% in February, largely driven by higher Mining and an increase in production from the non-metallic mineral products and food and beverages industries.
Saudi Arabia raises prices for oil sales to Asia.
Saudi Arabia raises prices for crude oil sales to Asia is being seen as a sign of the global oil market’s recovery from the impacts of the COVID-19 pandemic.
The price of crude oil increases as Baghdad and Irbil sign an agreement to resume oil exports from northern Iraq.
The agreement between Baghdad and Irbil to resume oil exports from northern Iraq is a positive development for Iraq and the global oil market.
UAE GDP to grow 4.3% in 2024.
The UAE has experienced substantial economic growth. Government policies, investment levels, changes in global economic conditions, and a variety of other factors can all have an impact on GDP growth. It’s also worth mentioning that economic forecasts are frequently subject to adjustment when new data becomes available, and actual results may differ from expectations.
March 17, 2023
New financing of over US$300 million approved by OFID, along with implementation of Climate Action Plan.
The OPEC Fund for International Development (OFID) has approved more than $300 million in financing in the first quarter of 2023, in support of its Climate Action Plan. The OPEC Fund is committed to ensuring a positive impact on people and the planet through its efforts in Africa, Asia, and Latin America. Three out of […]
February 27, 2023
In Kyiv, Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan met with Ukrainian President Volodymyr Zelenskyy
On Sunday, Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan arrived in Kyiv, where he met with Ukrainian President Volodymyr Zelenskyy and held a press conference with Ukraine’s Foreign Minister Dmytro Kuleba. The visit comes as Saudi Arabia maintains strong ties with both Ukraine and Russia throughout the ongoing crisis.