Decisions by Opec+ are not politicised and are based on market fundamentals, Saudi Arabian energy minister Prince Abdulaziz bin Salman said on Monday, adding that the alliance of oil producers is sufficiently flexible to adjust policy as needed.
Prince Abdulaziz was speaking at a media forum in the capital Riyadh about last October’s decision to cut the group’s production target by two million barrels per day.
The group comprising the Organisation of the Petroleum Exporting Countries (Opec) and allies including Russia agreed the cuts until the end of 2023.
Prince Abdulaziz reiterated in an interview with Energy Aspects last week that the decision was locked in for the rest of the year. — Reuters
Once ramped up, the new centres are expected to each generate annual revenue of up to Dh200 million
Many residents opt for it in times of financial crunch and other urgent personal needs
Rents are projected to continue the upward trend across the country in 2024
The number of transactions carried out witnessed a significant increase compared to last year
The 57,000 sqm facility incorporates advanced technologies that include automated sort systems
Report notes that the GCC banking sector has experienced steady growth due to infrastructure projects, economic diversification efforts