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The Latest Breaking News from Saudi Arabia

OPEC+ announces additional output cuts in bid to prop up volatile oil prices

Following a virtual meeting, OPEC+ members have announced additional oil supply cuts, with de facto leader Saudi Arabia saying it would extend an existing cut of one million barrels per day through to March next year. Russia pledged to slash oil exports by 500,000 barrels a day, up from 300,000,…

France 24

Will OPEC+ Deepen its Crude Oil Production Cuts?

OPEC+ members are meeting virtually today to discuss crude production levels. Several delegates have said the group is discussing additional output cuts of about 1 million bpd. The monthly meeting of OPEC+ was pushed back to today from last Sunday as a rift developed among OPEC+ members regarding crude production...

Barchart

Traumatic Journeys Of Ethiopians Seeking A Better Life

Starvation, torture, robbery -- young Ethiopian migrant "returnees" recount the horrors they endured on their fruitless journeys in search of a better life in the Gulf.

International Business Times

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OPEC+ suppliers struggle to agree on cuts to oil production even as prices tumble

The OPEC oil cartel led by Saudi Arabia and allied producers including Russia are trying to agree on cuts to the amount of crude they send to the world

The Independent UK

Good, bad and ugly: Which States use clean fuel for power production and which do not | Data

BRICS nations wrangle over climate change at U.N. summit; China leads in clean and dirty energy, India's progress in producing clean and renewable slow. China's share of fossil energy in power production declined from 82-65% between 2000 and 2022, India's share in clean energy increased from 17-23%. Brazil, Ethiopia have…

The Hindu

Ferrari needs to make more of its F1 opportunities in 2024 – Vasseur

Ferrari was beaten by Mercedes to second in the 2023 constructors' championship in Abu Dhabi by three points after both teams went through a season full of ups and downs with their peaky cars. Just like its counterpart from Brackley, Ferrari started off on the wrong foot in Bahrain with…

Motorsport

Saudi Wealth Fund Scoops Up 10% Of London Heathrow Airport

Saudi Arabia's sovereign wealth fund is to buy ten percent of London's Heathrow airport from Spanish infrastructure giant Ferrovial, whose departure from the hub after almost two decades leaves Qatar as its biggest shareholder.

International Business Times

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Vasseur: Ferrari needs to make more of its opportunities in F1 2024

Ferrari was beaten by Mercedes to second in the 2023 constructors' championship in Abu Dhabi by three points after both teams went through a season full of ups and downs with peaky cars. Just like its counterpart from Brackley, Ferrari started off on the wrong foot in Bahrain with a…

Autosport

Saudi Arabia’s wealth fund takes 10% stake in Heathrow airport

Spanish firm Ferrovial sells off holding after 17 years, with other 15% going to French group Ardian

The Guardian - UK

US economy grew faster than expected as businesses ramped up investment – as it happened

Rolling coverage of business as US revises up GDP growth in third quarter to fastest pace since 2021

The Guardian - UK

Cristiano Ronaldo Museum Opens In Saudi Arabia

The CR7 Signature Museum was experienced by the player himself before it opened its doors to the public earlier this month.

International Business Times UK

Saudi Arabia’s Riyadh selected to host World Expo in 2030

Country also expected to host 2034 World Cup achieves latest in series of wins for Gulf states on international events.

Al Jazeera

Crude Prices Close Higher on Dollar Weakens and Energy Demand Optimism

January WTI crude oil (CLF24 ) on Tuesday closed up +1.55 (+2.07%), and Jan RBOB gasoline (RBF24 ) closed up +0.0472 (+2.20%). Crude oil and gasoline prices Tuesday closed moderately higher. Tuesday's slump in the dollar index (DXY00 ) to a 3-1/2 month low was bullish for energy prices. Crude...

Barchart

Crude Prices Gain on Dollar Weakness and Strong Economic News

January WTI crude oil (CLF24 ) this morning is up +1.93 (+2.58%), and Jan RBOB gasoline (RBF24 ) is up +0.0578 (+2.69%). Crude oil and gasoline prices this morning are moderately higher. Today's slump in the dollar index (DXY00 ) to a 3-1/2 month low is bullish for energy prices....

Barchart

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The Hindu

India has major role in promoting peace globally: Saudi envoy

Arab nations urge India to play key role in sustaining peace, stability in world. Saudi Ambassador calls for permanent ceasefire in Gaza Strip. Arab-Islamic Foreign Ministers tour world capitals to explain need for peace, ceasefire.

Fortune

The head of the Middle East's largest private oil producer says we'll need '100 times more' renewable energy to meet demand

“You need to add a new Saudi Arabia every two years just to meet the current demand," Crescent Petroleum CEO Majid Jafar said at Fortune's Global Forum in Abu Dhabi.

Barchart

Crude Prices Fall as OPEC+ Members Disagree on Crude Production Quotas

January WTI crude oil (CLF24 ) on Monday closed down -0.68 (-0.90%), and Jan RBOB gasoline (RBF24 ) closed up +0.0088 (+0.41%). Crude oil and gasoline prices on Monday settled mixed. Crude prices are under pressure from a dispute among Saudi Arabia and other OPEC+ members on crude production levels....

The Guardian - UK

Revealed: Saudi Arabia’s grand plan to ‘hook’ poor countries on oil

Climate scientists say fossil fuel use needs to fall rapidly – but oil-rich kingdom is working to drive up demand

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The Guardian - UK

Sunak woos business elite with royal welcome – but they seek certainty

Bosses have doubts despite glitzy summit seeking investment from US, Saudi Arabia and others

Barchart

Crude Prices Slip on a Rift Among OPEC+ Members on Crude Production

January WTI crude oil (CLF24 ) this morning is down -0.31 (-0.41%), and Jan RBOB gasoline (RBF24 ) is up -0.0120 (+0.56%). Crude oil and gasoline prices this morning are mixed. Crude prices are under pressure from a stronger dollar and a dispute among Saudi Arabia and other OPEC+ members...

International Business Times

Italy And Saudi Arabia Discuss Expanding Cooperation In Oil, Gas and Mining

A high-level meeting between Italian and Saudi officials took place Monday ahead of this week's landmark international climate conference.

The Guardian - UK

UK ministers approved £60m payments to Saudi royals to maintain arms deal, court told

Payments allegedly facilitated by senior government and military figures to secure arms contracts for British firms

FourFourTwo

WATCH: Cristiano Ronaldo visits his own CR7 museum and waxwork in Saudi Arabia

The Portuguese has posed alongside a new wax figure in Riyadh after the opening of a new space showcasing his football story

LiveScience

Ancient 20-inch-long hand ax discovered in Saudi Arabia may be world's largest

What may be the world's largest prehistoric hand ax, measuring over 20 inches long, was found in Saudi Arabia.

FourFourTwo

Newcastle United WILL look to Saudi Arabia for players in January, and here’s is why

The Premier League stakeholders vote is a lifeline that could save Eddie Howe’s injury headaches and possibly Newcastle’s season

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