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OPEC to reach an agreement soon about crude supply

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Khalid Al-Falih, Saudi energy minster announced on Thursday that OPEC’s members are looking into sufficiently cutting oil production; in order to control the drop in oil prices.

This drop started back in October and continues to this moment, due to an oversupply. OPEC also fears that with the slow economic growth in the world, the demand of energy will be reduced.

Members of OPEC and other producers didn’t reach an agreement so far regarding the cuts, but Al-Falih hopes that by tomorrow they would have reached a plan; seeing how all the options are laid on the table and waiting to be settled.

Options suggests reducing oil production by a million barrels per day. However, if not everyone is ready for a cut in the production, then no action will be taken regarding the issue for the meantime.

Commenting on the issue, Donald Trump expressed his fear concerning the issue and tweeted on Wednesday: “Hopefully OPEC will be keeping oil flows as is, not restricted. The World does not want to see, or need, higher oil prices!”

Hopefully tomorrow, the members can reach an agreement and a decision will be made in favor of all parties that will be affected by the cut.

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Princess Reema bint Bandar Meets With US Treasury Chief Steven Mnuchin

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Saudi ambassador Princess Reema bint Bandar met earlier with US Treasury Secretary Steven Mnuchin where the two of them got to discuss opportunities to further enhance the relationship between the two countries.

The Saudi Arabian embassy in the US said in a tweet that the two senior officials explored “ways to strengthen Saudi Arabia’s close partnership with the United States on countering the financing of terrorism, as well as US support for the Kingdom’s economic reforms.”

Princess Reema assumed her new office earlier this month, and has since met with the political figures of the US in the attempt of strengthening the relationship between the two countries.

She presented her credentials in the presence of US President Donald Trump as the Kingdom’s top diplomat in Washington.

 

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Princess Reema Bint Bandar Meets Donald Trump At The White House

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Saudi Arabia’s ambassador to the United States, Princess Reema bint Bandar, has met with President Donald Trump to present her credentials as the Kingdom’s top diplomat in Washington.

“HRH stated that the Saudi-U.S. partnership is essential to the interests of both countries and expressed confidence that the two countries are capable of overcoming any challenges at the regional or global levels,” the embassy said.

The 44-year-old diplomat expressed her enthusiasm on social media, writing, “Looking forward to starting this chapter of my life in Washington DC.”

“Presented credentials today at the White House,” she wrote on Twitter. “Conveyed the well wishes of Kingdom’s Leadership. Looking forward to working on strengthening and solidifying the historic Saudi – U.S partnership.”

Princess Reema Bint Bandar became the 11th Saudi diplomatic representing the Kingdom to Washington since 1945, marking an opening for more women to participate and take roles in government positions.

 

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Main Road in Sharm El-Sheikh Gets Named After King Salman

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According to a report from the Saudi Press Agency, the main road in the Egyptian Red Sea resort town of Sharm El-Sheikh has been named after King Salman. 

Governor of South Sinai, Khaled Fouda, announced the decision during a ceremony that was held to celebrate the 37th anniversary of Sinai Liberation Day.

Osama Nugali, Saudi Arabia’s Ambassador and the Kingdom’s permanent representative to the Arab League, took part in the event where the announcement was made.

He thanked President Abdel Fattah El-Sisi and several senior officials, for such a kind gesture and for bestowing the honor on King Salman.

 

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