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Saudi Arabia will continue its unilateral production cutback of 1 million barrels a day until December. Russia’s export reduction of 300,000 barrels a day will be extended for the same duration.
Saudi Arabia and Russia said on Tuesday they would extend voluntary oil cuts until the end of the year, sending the price of Brent crude to a 10-month high.In August, oil firm Saudi Aramco announced profits of $30.08 billion for the second quarter of 2023, a fall of 38 percent from the same period last year when prices surged after Russia invaded Ukraine.
Meanwhile, a cash-strapped Lebanese broadcaster goes off air after decades and Kuwait's embassy warns against group defrauding students
DUBAI, June 19 - Buoyed by a swift economic rebound post-COVID, Dubai is racing to attract people and capital to drive long-term growth, betting it can avoid past debt crises that dented its global ambitions.
Dubai: The approach pursued by the glitzy Gulf city-state is a reboot of a flamboyant economic model that for decades focused on property investment, tourism and inflows of foreign capital.