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The Latest Breaking News from Saudi Arabia

Crude Prices Erase Early Gains on Ramped-Up U.S. Crude Exports

January WTI crude oil (CLF24 ) on Tuesday closed down -0.72 (-0.99%), and Jan RBOB gasoline (RBF24 ) closed down -0.0239 (-1.12%). Crude oil and gasoline prices Tuesday gave up early gains and moved lower, with crude falling to a 3-week low. Ramped-up U.S. crude exports are weighing on oil...

Barchart

Putin to visit Saudi Arabia, UAE with Israel-Hamas war on agenda

Talks expected to focus on Israel-Hamas war in Gaza and oil market cooperation, says Kremlin spokesperson.

Al Jazeera

Crude Prices Climb After Russia Said OPEC+ Crude Cuts Can Go Further

January WTI crude oil (CLF24 ) this morning is up +0.73 (+1.00%), and Jan RBOB gasoline (RBF24 ) is up +0.0012 (+0.06%). Crude oil and gasoline prices this morning are moderately higher, with crude recovering from a 3-week low. Crude prices rebounded from early losses and moved higher after Russian...

Barchart

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Putin to make rare trip abroad to discuss Israel-Hamas war with UAE and Saudi Arabia

Russian president will travel to Middle East on Wednesday as he tries to reclaim role in global politics

The Guardian - UK

Kremlin Says Putin To Visit Saudi Arabia, UAE On Wednesday

President Vladimir Putin will visit Saudi Arabia and the United Arab Emirates on Wednesday, the Kremlin has announced, as Moscow courts allies abroad despite being isolated by the West over the Ukraine conflict.

International Business Times

No agreement in sight as Cop28 teams wrangle over phasing out fossil fuels

The debate over the future of fossil fuels, the biggest cause of global warming, is the key battle at the Cop28 climate summit hosted by the oil-rich United Arab Emirates. As neighbouring Saudi Arabia – the world's biggest oil exporter – ruled out phasing down oil, gas and coal, and…

Radio France Internationale

Isolated Putin set for ‘working visits’ to UAE and Saudi Arabia as rest of world discusses climate action at Cop28

Russian president set for rare trip overseas since his arrest warrant over Ukraine war crimes

The Independent UK

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After Houthi attacks in the Red Sea, fears of a wider Middle East conflict grow

The Iran-backed rebel group attacked multiple ships in the Red Sea over the weekend. The Houthis control large swaths of Yemen's territory.

WEKU

Saudi Arabia Says 'Absolutely Not' To Oil Phaseout At COP28

Saudi Arabia's energy minister has slammed the door shut on agreeing to phase out fossil fuels at the UN's COP28 climate talks, setting the stage for difficult negotiations in Dubai.

International Business Times

Crude Oil: Does OPEC Have a Problem?

OPEC’s biannual meeting in late November establishes the cartel’s production policy for the coming year. The cartel scheduled the late 2023 meeting for Sunday, November 26, but the oil ministers could not agree on output quotas during preliminary meetings, causing a delay in the meeting until the end of November.

Barchart

Rocco Forte sells 49% of luxury hotel chain to Saudi Arabia

Deal is thought to value the owner of the Balmoral and Brown’s hotels at about £1.2bn

The Guardian - UK

From a 100-mile city to a desert ski resort: why is Saudi Arabia spending billions on architectural ‘gigaprojects’?

The Saudi crown prince is creating wildly ambitious projects masterminded by renowned architects, curators and designers. The upshot is either progressive modernisation or image-laundering, depending who you ask

The Guardian - UK

Saudi Arabia to land ANOTHER star name - as key target launches scathing attack: report

Saudi Arabia have changed the footballing landscape this past year, and the nation doesn't look like slowing down anytime soon

FourFourTwo

Ronaldo walks off to chants of 'Messi, Messi' as his team loses 3-0 in Riyadh derby

Ronaldo's move to Saudi Arabia has increased the level of soccer in the country. Despite Al-Nassr's 3-0 loss to Al-Hilal, Ronaldo's presence is still felt; fans cheered him on and parents pointed him out to their kids.

The Hindu

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The Independent UK

Sharon Stone among stars at opening of Red Sea Film Festival

The Saudi Arabian city of Jeddah has welcomed A-listers from across the world

International Business Times

After Success Abroad, Saudi Designers Hit The Runway At Home

Couturier Adnan Akbar's past clients included Princess Diana and two French first ladies, but until recently he had never staged a major fashion show in his native Saudi Arabia.

France 24

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,…

Barchart

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...

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International Business Times

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.

The Independent UK

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 Hindu

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…

Motorsport

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…

International Business Times

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.

Autosport

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…

The Guardian - UK

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

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