Latest News for: Saudi arabia market

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Saudi Arabia is slashing oil supply. It could mean higher gas prices for US drivers

The Post and Courier 05 Jun 2023
FRANKFURT, GermanySaudi Arabia will reduce how ... The new cut would likely push up oil prices in the short term, but the impact after that would depend on whether Saudi Arabia decides to extend it, said Jorge Leon, senior vice president of oil markets research at Rystad Energy.
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AP News in Brief at 6:04 p.m. EDT

Cleburne Times-Review 05 Jun 2023
Saudi Arabia is slashing oil supply ... The new cut would likely push up oil prices in the short term, but the impact after that would depend on whether Saudi Arabia decides to extend it, said Jorge Leon, senior vice president of oil markets research at Rystad Energy.
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Dubai’s YallaHub gears up to expand presence in Saudi Arabia

Arab News 04 Jun 2023
In an interview with Arab News, Leo Dovbenko, CEO and co-founder of YallaHub, said that the company has set its strategy on Gulf expansion with Saudi Arabia being the primary market ... YallaHub’s primary target market comprises countries in the Gulf Cooperation Council which include Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE.
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Saudi Arabia says it will cut production to stem a slide in oil prices

The Spokesman-Review 04 Jun 2023
... in oil prices, including an additional cut in output of 1 million barrels a day by Saudi Arabia ... As far as the markets are concerned, the key feature of the agreement is the additional production cut by Saudi Arabia ... Saudi Arabia’s announcement comes a couple of days before U.S.
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OPEC Plus to extend oil production cuts as prices stagnate 

The Hill 04 Jun 2023
... are “advisable at this moment given market uncertainty.” President Biden had also threatened that there would be “consequences” for Saudi Arabia, after the country announced the production cut last October of about 2 million barrels per day. .
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Australia seeks to boost economic ties with Saudi Arabia, says envoy

Arab News 04 Jun 2023
Eyeing economic opportunities in Saudi Arabia and providing a platform for Australian companies to explore and deepen trade ties with the Kingdom, Trademark Group of Companies opened its office in Riyadh on Saturday ... The Australian envoy is optimistic about boosting trade and investment ties with Saudi Arabia in various sectors.
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OPEC+ weighs fresh production cuts to prop up prices

Manila Standard 04 Jun 2023
VIENNA, AustriaThere are growing signs that major oil producers led by Saudi Arabia and Russia are considering slashing production further when they meet on Sunday in a bid to prop up prices ... However, Yousef Alshammari of CMarkits said he expected Saudi Arabia “to push for a cut of at least half a million bpd”.
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OPEC+ weighs fresh production cuts to rein in weak prices

Urdu Point 04 Jun 2023
Vienna, June 4 (UrduPoint / Pakistan Point News - 4th Jun, 2023 ) .There are growing signs that major oil producers led by Saudi Arabia and Russia are considering slashing production further when they meet on Sunday in a bid to prop up prices ... "Saudi Arabia doesn't want that scenario to come back -- neither does Russia," said Alshammari.
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Production cut planned

The Times & Democrat 04 Jun 2023
FRANKFURT, GermanySaudi Arabia will reduce the ... The new cut would likely push up oil prices in the short term, but the impact after that would depend on whether Saudi Arabia decides to extend it, said Jorge Leon, senior vice president of oil markets research at Rystad Energy.
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Saudi Arabia, China contemplate energy security through petrochemical JVs

Arab News 04 Jun 2023
Saudi Arabia and China are collaborating to ensure safe energy supplies in their markets by planning to establish petrochemical joint ventures ... Saudi Arabia led the way with trade between the countries reaching around SR400 billion ($106 billion), a 30 percent increase over 2021.
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Most Gulf markets gain after US debt deal, job data

Reuters 04 Jun 2023
Saudi Arabia's benchmark index (.TASI) advanced 1.9%, outperforming the region, buoyed by a 2.5% rise in Al Rajhi Bank (1120.SE) and a 3.8% increase in Riyad Bank (1010.SE) ... Saudi Arabia's Milling Company 3 (MC3) is planning an initial public offering (IPO) next year and ...
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Opec+ members agree to extend voluntary oil output cuts until end of 2024

The National 04 Jun 2023
Opec+ members Saudi Arabia, the UAE, Iraq, Kuwait, Oman and Algeria will extend their voluntary oil production cuts until the end of 2024 as economic growth concerns weigh on the outlook for crude demand ... At an event in Qatar, Saudi Arabia's Energy Minister told oil market short sellers to “watch out” amid volatility in the market.
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UAE: 800 fintech firms need Dh26 billion in funding in 3 years across Menap

Khaleejtimes 04 Jun 2023
“The recent surge in funding has been particularly strong in Saudi Arabia, Egypt, and Bahrain as well as in the UAE with the number of firms scaling in these markets growing rapidly. Indeed, these markets have strengthened their position as crucial hubs for innovation, with the ...
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Russia Reduced Oil Production by 500,000 Bpd - Deputy Prime Minister

Urdu Point 04 Jun 2023
... 2024 to 40.46 million barrels per day, Novak said that it was in the interests of the world market and that Russia and Saudi Arabia had no disagreement on this issue.
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YallaHub Plans Expansion into Saudi Arabia's Thriving E-commerce Market

MENA FN 04 Jun 2023
(MENAFN) Dubai-based e-commerce facilitator, YallaHub, has unveiled an ambitious expansion plan to enter Saudi Arabia's rapidly growing market by the second quarter of 2023. Founded in late 2022, ... .

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