The global oil market is improving and stabilising, the Saudi oil minister Khalid Al Falih said in Baghdad on Saturday.
In a speech at the opening of the Baghdad International Exhibition, Mr Al Falih praised the cooperation between Iraq and Saudi Arabia, which he said had helped to boost global oil prices.
Speaking later he said Saudi Arabia and Iraq were in agreement on the need to "fully comply" with cutbacks in crude output agreed by Opec, Russia and several other producers to push up prices.
"The market has improved a lot but has still some way to go," he said.
Mr Al Falih is the first Saudi official to make a public speech in Baghdad for several decades.
"The best example of the importance of cooperation between our two countries is the improvement and stability trend seen in the oil market," said Mr Al Falih, to applause from the audience of Iraqi ministers, senior officials and businessmen.
Saudi Arabia and Iraq are the largest and second-largest producers in Opec.
The Iraqi oil ministry said Mr Al Falih and his Iraqi counterpart, Jabar Al Luaibi, agreed to cooperate in implementing decisions by oil exporting countries to curb global supply in order to lift crude prices further. Opec, Russia and other producers have reduced production by about 1.8 million barrels per day (bpd) since the start of 2017, helping to boost oil prices. The cutbacks should continue until March 2018.
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Negotiations to prepare for Opec’s November 30 meeting are taking their lead from the Russian president Vladimir Putin’s tentative backing for a further nine months of curbs, the group’s secretary general Mohammad Barkindo said at the Oil & Money conference in London on Thursday. The comments signal not only the growing chance of an extension of the cuts, but also how far Russia and Saudi Arabia are working together to lift oil prices.
Iraq and Saudi began taking steps towards detente in 2015 after 25 years of troubled relations starting with the Iraqi invasion of Kuwait in 1990.
Tension remained high after the 2003 US-led invasion of Iraq, which toppled Saddam Hussein.
Iraq is seeking economic benefits from the thaw with Riyadh while Saudi Arabia hopes closer ties would help to rollback Iran's influence in the region.
A Saudi commercial aircraft, operated by Flynas, a domestic and international low-cost airline based in Riyadh and the country's first budget airline, arrived in Baghdad on Wednesday for the first time in 27 years.
In August, the two countries said they planned to open the Arar land border crossing for trade for the first time since 1990.
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
What are the influencer academy modules?
- Mastery of audio-visual content creation.
- Cinematography, shots and movement.
- All aspects of post-production.
- Emerging technologies and VFX with AI and CGI.
- Understanding of marketing objectives and audience engagement.
- Tourism industry knowledge.
- Professional ethics.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
THE BIO
Family: I have three siblings, one older brother (age 25) and two younger sisters, 20 and 13
Favourite book: Asking for my favourite book has to be one of the hardest questions. However a current favourite would be Sidewalk by Mitchell Duneier
Favourite place to travel to: Any walkable city. I also love nature and wildlife
What do you love eating or cooking: I’m constantly in the kitchen. Ever since I changed the way I eat I enjoy choosing and creating what goes into my body. However, nothing can top home cooked food from my parents.
Favorite place to go in the UAE: A quiet beach.
MATCH INFO
Uefa Champions League semi-final, first leg
Tottenham 0-1 Ajax, Tuesday
Second leg
Ajax v Tottenham, Wednesday, May 8, 11pm
Game is on BeIN Sports
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Get inspired
Here are a couple of Valentine’s Day food products that may or may not go the distance (but have got the internet talking anyway).
Sourdough sentiments: Marks & Spencer in the United Kingdom has introduced a slow-baked sourdough loaf dusted with flour to spell out I (heart) you, at £2 (Dh9.5). While it’s not available in the UAE, there’s nothing to stop you taking the idea and creating your own message of love, stencilled on breakfast-inbed toast.
Crisps playing cupid: Crisp company Tyrells has added a spicy addition to its range for Valentine’s Day. The brand describes the new honey and chilli flavour on Twitter as: “A tenderly bracing duo of the tantalising tingle of chilli with sweet and sticky honey. A helping hand to get your heart racing.” Again, not on sale here, but if you’re tempted you could certainly fashion your own flavour mix (spicy Cheetos and caramel popcorn, anyone?).
Killing of Qassem Suleimani
More coverage from the Future Forum
Mohammed bin Zayed Majlis
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
COMPANY%20PROFILE
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Company%20profile
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How to vote in the UAE
1) Download your ballot https://www.fvap.gov/
2) Take it to the US Embassy
3) Deadline is October 15
4) The embassy will ensure all ballots reach the US in time for the November 3 poll
