NEW YORK (Reuters) – Oil prices hit 11-month highs and were on track for a weekly gain on Friday, supported by Saudi Arabia’s pledge to cut output and strong gains in major equity markets. Brent crude …
Tajikistan hails GCC summit declaration
Tajikistan welcomed the results of the 41st GCC Summit, which was held in Al-Ula, Saudi Arabia, on January 5. The signing of the Al-Ula Declaration by Saudi Arabia, the United Arab Emirates, Kuwait, …
Saudi Arabia wants to further strengthen trade ties with Pakistan
Ambassador of Saudi Arabia Nawaf Saeed Al-Malkiy Friday said that Saudi Arabia wanted to further deepen and strengthen its trade ties with Pakistan as both the countries have great scope to promote …
UAE joins Saudis in dropping Qatar blockade as a Persian Gulf crisis ends
For 3 years a feud between neighbors in the Persian Gulf complicated American policy, but with Trump set to leave, Saudi Arabia and its partners are pulling back.
Oil Gains to Near $55 on Saudi Cuts and Democratic Sweep
Brent oil climbed to near $55 a barrel as Saudi Arabia’s unilateral output cut eased over-supply fears and a Democratic sweep in the U.S. paved the way for more stimulus spending.
UAE to Reopen All Entry Points With Qatar Following Gulf Dispute Thaw
The United Arab Emirates will reopen all its land, sea and air entry points with Qatar starting Saturday, state news agency WAM reported on Friday. Saudi Arabia announced a breakthrough in ending a …
Russia, Kazakhstan pushing for oil production increases on the back of coronavirus vaccine-fuelled oil price optimism
Russia and Kazakhstan have won a concession from OPEC to increase production in the coming months at the expense of the Kingdom of Saudi Arabia, …
Saudi Prince Hits a New Year Reset by Making Allies Not Enemies
On a day that Saudi Arabia jolted the oil market with an output cut it called a “gesture of goodwill,” the kingdom’s de-facto ruler took center stage in a mirrored concert hall, ready to resolve a …
Oil Hovers Near 11-Month Highs, Sustained by Saudi Output Cuts Pledge
Oil prices edged higher on Friday, hovering near 11-month highs hit the previous day, as Saudi Arabia’s pledge to make voluntary cuts to its output continued to buoy the mood in the market though …
Saudi Prince Hits a New Year Reset by Making Allies Not Enemies
On a day that Saudi Arabia jolted the oil market with an output cut it called a “gesture of goodwill,” the kingdom’s de-facto ruler took center stage in a mirrored concert hall, ready to resolve a …