Egypt
Egypt’s El-Sisi seeks new investments during European tour
Egyptian President Abdel-Fattah El-Sisi began his European tour with a state visit to Denmark, meeting King Frederik X in Copenhagen on Friday.
OPEC+ postpones output policy meeting to Dec 5, sources say
1 min
The OPEC+ oil alliance has postponed a meeting to decide the next steps of its crude production strategy to Dec. 5, two OPEC+ sources confirmed on Thursday.
OPEC+, which pumps about half the world's oil, had planned to roll back oil production cuts gradually, Reuters
The OPEC+ oil alliance has postponed a meeting to decide the next steps of its crude production strategy to Dec. 5, two OPEC+ sources confirmed on Thursday.
"Sunday does not suit everyone," one of the sources told Reuters after CNBC had reported the postponement, citing two unnamed delegates.
Top OPEC+ ministers have held talks ahead of the oil producer group's meeting, which had been scheduled for Sunday, to set output policy. OPEC+ sources had said there would be discussion over a further delay to oil output increases due to start in January.
OPEC+, which pumps about half the world's oil, had planned to roll back oil production cuts gradually, with small increases to output over 2024 and 2025.
However, a slowdown in Chinese and global demand and rising output outside the group have put a dampener on that plan.
Reporting by Vladimir Soldtakin in Moscow and Angela Christy in Bengaluru
Related
Turkey
Turkey GDP growth 2.1% in Q3, lower than forecast
Turkey's economy grew less than expected in the third quarter, expanding at an annual 2.1% rate, official data showed on Friday.
Saudi Arabia
S&P Global forecasts steady growth for Saudi Arabia amid adjusted oil projections
S&P Global has released updated projections for Saudi Arabia’s economic growth, forecasting a 0.8% increase in GDP for 2024 and a more robust 4.7% growth in 2025. These revisions reflect recalibrated assumptions for oil production and highlight the resilience of the Kingdom’s non-oil sectors.
Subscribe to our newsletter
