saudi crown prince backs rollover of oil output cuts
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

Saudi crown prince backs rollover of oil output cuts

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleSaudi crown prince backs rollover of oil output cuts

Prince Mohammed said that extending the cuts would bring benefits for both OPEC and non-OPEC producers.
Riyadh - Muslimchronicle

Saudi Crown Prince Mohammed bin Salman said the kingdom supports extending a deal by oil producers to cut crude output beyond March next year.

"Of course," he said in an interview with Bloomberg News published Thursday when asked if Riyadh will back an extension of the deal struck by OPEC and non-OPEC producers a year ago.
"We need to continue stabilising the market," he said in the interview given on the sidelines of a three-day investment summit in the Saudi capital.

Oil producers led by OPEC kingpin Saudi Arabia and non-OPEC heavyweight Russia have already extended the original six-month deal by an additional nine months until the end of March.

The agreement to trim daily production by 1.8 million barrels has effectively curbed an excess of crude supplies to global markets, helped reduce record-high inventory levels and boosted oil prices to near $60 a barrel.

Prince Mohammed said that extending the cuts would bring benefits for both OPEC and non-OPEC producers.

The crown prince, who oversees the economic affairs of the world's top oil exporter, confirmed that the initial public offering for five percent of giant national oil company Aramco will be carried out next year.

"We are on the right track," he said of the IPO, which represents the cornerstone of the Vision 2030 reform package to reduce the country's dependence on oil income.

"We don't have any problems, we have a lot of work and a lot of decisions and there are a lot of things that will be announced," he said.

Doubts have been raised in recent weeks about the viability of the IPO, expected to be the largest in history and which would generate around $100 billion based on a valuation of $2 trillion for Aramco.

Prince Mohammed also said the kingdom is in talks with the world's biggest companies to develop technologies into the proposed mega economic zone called NEOM with investments worth $500 billion.

He said those companies include Amazon, Alibaba and Airbus.

"We are talking with everyone ... We have the 'who's who' from around the world engaging in this."

Source:AFP

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

saudi crown prince backs rollover of oil output cuts saudi crown prince backs rollover of oil output cuts

 



Themuslimchronicle, themuslimchronicle

GMT 06:29 2018 Sunday ,21 January

500 new trainees join US-backed Syria border force

GMT 10:31 2017 Sunday ,20 August

the history of solar eclipses

GMT 16:36 2017 Tuesday ,05 December

Gulf Air launches Bahrain Tourist Visa Service

GMT 03:19 2012 Saturday ,15 September

FREEDOM

GMT 06:56 2014 Friday ,12 September

No winners in Gaza

GMT 22:30 2012 Monday ,16 July

Sudan ruling party says protests \'ridiculous\'

GMT 07:09 2012 Wednesday ,20 June

Sudan and South Sudan border tensions

GMT 12:02 2012 Tuesday ,17 April

What the Living Do

GMT 17:33 2017 Saturday ,25 March

Caceres recalled to Paraguay squad for Brazil clash

GMT 17:18 2017 Tuesday ,19 December

Bahrain weather forecast

GMT 09:35 2017 Sunday ,29 October

Actress Annabella Sciorra accuses Weinstein of rape

GMT 13:43 2017 Thursday ,16 November

People Magazine names Blake Shelton 'sexiest man alive'

GMT 18:10 2017 Monday ,17 April

GCC Secretary-General Condemns Syria Blast

GMT 13:15 2017 Wednesday ,15 February

Inherited the talent to draw on glass

GMT 14:35 2017 Saturday ,25 March

Dar Essalam to Host Two Golf Competitions

GMT 07:22 2016 Saturday ,09 July

Gunfire near presidential palace in South Sudan

GMT 10:42 2017 Wednesday ,16 August

Chinese teen Internet addict dies

GMT 13:51 2017 Thursday ,21 September

King Salman meets with former Turkish president

GMT 09:31 2017 Wednesday ,29 March

NPRA holds training course

GMT 08:18 2017 Thursday ,14 December

Twitter makes 'tweetstorms' easier

GMT 17:19 2012 Thursday ,12 January

New electric-car racing championships
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle