Mexico’s 2-1 victory against Saudi Arabia was not enough for them to advance from Group C, as Poland and Argentina progress. Henry Martin and Luis Chavez scored for Mexico as they defeated Saudi Arabia 2-1 in a thrilling Group C match, but it was not enough for El Tri to qualify for the World Cup … Read more
The Middle East has been steadily reaping the benefits of its oil bounty throughout 2022, arguably one of the most successful years for the region at large in its recent history. Yet the prospects for next year are by no means as rosy. The global economy is in disarray, with the double whammy of a … Read more
By Charles Kennedy – Nov 21, 2022, 11:42 AM CST Saudi Arabian officials are denying the news that OPEC is considering a 500,000 bpd output hike. Crude prices crashed this morning after the WSJ reported that OPEC+ is considering an output increase. A production hike from the group would be a welcome development for the … Read more
The world’s largest crude oil exporter, Saudi Arabia, has started to slash its crude exports after OPEC+ is now reducing its overall target production by 2 million barrels per day (bpd). Initial tracking and estimates suggest that so far in November, Saudi Arabia has reduced its crude oil exports by more than 400,000 bpd, while … Read more
Given the many uncertainties in the global economy, the OPEC+ group will remain cautious in its oil production policy when it meets next month, Prince Abdulaziz bin Salman, the energy minister of OPEC’s de facto leader Saudi Arabia, told Bloomberg TV on Friday. “Our theme is being cautious,” Prince Abdulaziz bin Salman told Bloomberg on … Read more
Saudi Arabia’s state oil company has assured several buyers in Asia it will deliver full contracted volumes in December despite the OPEC+ decision to cut production, Reuters has reported, citing unnamed sources. The assurance comes despite a commitment on the part of the Kingdom to reduce its production to contribute to the group-wide cut of … Read more
Saudi Arabia’s crown prince Mohammed bin Salman has launched the country’s first EV brand, Saudi news agency SPA said on Thursday. The new brand of EVs, Ceer, a JV between Saudi Public Investment Fund (PIF) and Hon Hai Precision (Foxconn) is expected to add $8 billion to the country’s GDP by 2034, and is expected … Read more
United States says threats are concerning, and that it will defend Saudi Arabia and other Middle East allies. The United States has responded to reports of threats from Iran against Saudi Arabia by saying it is concerned and will not hesitate to respond if necessary. “We are concerned about the threat picture, and we remain … Read more
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN Business — When will central banks stop raising interest rates? That’s the multi-trillion dollar … Read more
Kingdom Holding Company and the private office of Prince Alwaleed bin Talal will maintain their stake in Twitter after Musk took control of the social media company. Saudi Arabia’s Kingdom Holding Company (KHC), along with the private office of Prince Alwaleed bin Talal, will continue their ownership of Twitter shares valued at $1.89bn after Elon … Read more
