A panel of OPEC+, a group of leading oil producing countries, will hold informal online talks on Saturday prior to meetings scheduled for next week, a letter seen by Reuters showed and source with knowledge of the matter said.
OPEC+ is debating whether to ease oil output cuts from Jan.1, as it previously agreed, or to continue producing at the same rate amid sluggish oil demand and fallout from the coronavirus pandemic.
The letter form the OPEC, seen by Reuters, said Russian Deputy Prime Minister Alexander Novak will attend Saturday’s informal consultations of the Joint Ministerial Monitoring Committee’s heads.
Novak was energy minister until earlier this month, leading Moscow’s efforts to forge close ties with the Organization of the Petroleum Exporting Countries and clinch the deal on output cuts.
Saudi Arabia will be presented by its Energy Minister, Prince Andulaziz bin Salman.
OPEC+ will meet on Nov.30 and Dec.1 to decide output policy for next year.
The group was due to raise output by 2 million barrels per day in January – about 2% of global consumption – as part of a steady easing of record supply cuts implemented this year.
But with demand for fuel weakening because of a second wave of the pandemic, OPEC+ has been considering delaying the increase or even making further cuts.
Dubai Cooling Firm Empower Invited Banks To Pitch For IPO – Sources
DUBAI – Dubai’s Emirates Central Cooling System Cooperation (Empower) has invited investment banks to pitch for roles in its planned initial public offering, which is slated for later this years, two sources with direct knowledge of the matter said. Empower, which is part owned by Dubai Electricity and Water Authority (DEWA), has asked banks to … More Dubai Cooling Firm Empower Invited Banks To Pitch For IPO – Sources
Saudi Finance Minister Says No Immediate Plans To Transfer More Funds To PIF
DAVOS, SWITZERLAND – Saudi Arabia’s finance minister said on Monday there were no immediate plans to transfer more funds to the Public Investment Fund (PIF), the sovereign wealth fund at the centre of the kingdom’s plans to diversify its economy away from oil. The PIF manages over $600 billion in assets, a figure that has … More Saudi Finance Minister Says No Immediate Plans To Transfer More Funds To PIF
Security Guard Killed In Qatar Embassy In Paris
PARIS, France – A security guard was killed in the early hours of Monday Inside the Qatar Embassy in Paris in an incident that does not appear to have any links to terrorism, a source close to the investigation said. The incident took place at around 0630 (0430GMT), the source said, adding that the suspect … More Security Guard Killed In Qatar Embassy In Paris
Guardiola Becomes England’s Most Successful Foreign Manager
PARIS, France – Spaniard Pep Guardiola became the most successful foreign manager in English football, in terms of league titles won, when he clinched his fourth Premier League crown on Sunday. With his latest success, the Manchester City manager moved above Frenchman Arsene Wenger and Portuguese Jose Mourinho who both have three Premier League titles … More Guardiola Becomes England’s Most Successful Foreign Manager
Qatari Foreign Minister: Iran Says It Has Matters ‘Under Review’ Over Nuclear Pact
PARIS, France – Qatar’s foreign minister said in remarks cited on Saturday by Al Jazeera TV that Qatar had been informed by Iran that matters were ‘under review’ regarding a nuclear deal between Iran and world powers. The Qatari – based TV broadcaster quoted Foreign Minister Sheikh Mohammed bin Abdulraham Al – Thani as saying … More Qatari Foreign Minister: Iran Says It Has Matters ‘Under Review’ Over Nuclear Pact
Greece Lifts COVID Curbs For Travellers Ahead Of Key Summer Season
ATHENS, Greece – Greece lifted COVID-19 restrictions on Sunday for foreign and domestic flights, its civil aviation authority said, ahead of the summer tourism season that officials hope will see revenues bouncing back from the pandemic slump. To fly in or out of the country, travellers were previously required to show either a vaccination certificate, … More Greece Lifts COVID Curbs For Travellers Ahead Of Key Summer Season
Saudi, Pakistan To Discuss Possible Support For Kingdom’s $3 Billion Deposit
PARIS, France – Saudi Arabia and Pakistan will discuss the possibility of supporting the kingdom’s $3 billion deposit in Pakistan’s central bank bank by extending its term ‘or through other options’, a joint statement carried by Saudi State News Agency SPA said on Sunday. Last year, Saudi Arabia deposited $3 billion in Pakistan’s central bank … More Saudi, Pakistan To Discuss Possible Support For Kingdom’s $3 Billion Deposit
King Abdullah Returns To Jordan After Surgery In Germany – State Media
PARIS, France – Jordan’s King Abdullah returned home on Tuesday from Germany after a successful operation for a slipped disc, the royal palace said. The king flown 10 days ago to a specialist hospital in Frankfurt after suffering severe back pain that required urgent surgery, doctors said.
Yemen President Cedes Powers To Council As Saudi Arabia Pushes To End War
PARIS, France – Yemen’s president delegated power to a presidential council and dismissed his deputy on Thursday in moves aimed at supporting U.N. – led efforts to revive negotiations to end a bitter seven – year war. Riyadh announced $3 billion in financial aid to the Saudi – backed government after the announcement by President … More Yemen President Cedes Powers To Council As Saudi Arabia Pushes To End War
Saudi Authorities Warn Against Donating To Strangers Due To Terrorism Financing
PARIS, France – Saudi Arabia’s Presidency of State Security warned citizens and residents in the Kingdom against donating to strangers, nothing that such practices increase the probability of financing terrorism. ‘[Random strangers] may be more dangerous than you think’, the Presidency of State Security said in a statement on Twitter, urging people to only make … More Saudi Authorities Warn Against Donating To Strangers Due To Terrorism Financing
Jordan’s Prince Hamzah Relinquishes Royal Title
PARIS, France – Jordan’s Prince Hamzah Bin Al – Hussein is relinquishing his title of prince, he said in a statement. Prince Hamza, a former heir to the throne, was accused last year of conspiring to destabilize the monarchy in a foreign – inspired plot. Prince Hamzah posted the statement on his official Twitter account, … More Jordan’s Prince Hamzah Relinquishes Royal Title
Saudi Arabian Grand Prix To Go Ahead As Planned, Say Organizers
JEDDAH, Saudi Arabia – Formula One’s Saudi Arabian Grand Prix will go ahead as planned, organizers said on Friday following attacks on a facility owned by oil giant Aramco near the racetrack in Jeddah. Yemen’s Iran – backed Houthis said they launched attacks on Saudi energy facilities on Friday and the Arab coalition said Aramco’s … More Saudi Arabian Grand Prix To Go Ahead As Planned, Say Organizers
Loading…
Something went wrong. Please refresh the page and/or try again.
ARABIA 5AM NEWS 