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11/07/2025 02:41 AST
Kuwait's Minister of Oil Tariq Al-Roumi said on Thursday that the global oil market is witnessing remarkable stability, with relatively stable prices and increasing demand.
In a statement to KUNA, during the Ninth OPEC International Seminar currently held in Vienna, Al-Roumi expressed his optimism about the market's future in the near and medium term, noting the market's ability to absorb any potential increases in demand.
The minister said the market is currently experiencing a period of relative balance, explaining that prices are stable and demand is on the rise, noting that this impression was also shared by the majority of participants in the discussions held at the seminar.
On the recent increase in supplies by some OPEC+ countries, Al-Roumi said that the move came as a result of concerns about price levels, but it contributed to maintaining price stability and there was no real need to pump additional quantities.
He emphasized that the current market fundamentals, in terms of the balance between supply and demand, are reassuring, despite the difficulty of accurately predicting price levels. Al-Roumi said that the seminar provided an opportunity for in-depth dialogue and bilateral meetings with leaders and influential figures in the energy sector.
KUNA
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11/07/2025
In June, the total value of real estate transactions reached 1,684,240,900 Qatari riyals.
Data from the analytical real estate bulletin issued by the Ministry of Justice showed that 372 real
The Peninsula
11/07/2025
Saudi Arabia is leading a sweeping industrial transformation aimed at reshaping the national economy and securing a leading position in advanced sectors, the kingdom's Minister of Industry and Minera
Asharq Al Awsat
11/07/2025
The non-oil trade surplus of Saudi Arabia with the Gulf Cooperation Council (GCC) countries recorded an annual growth rate of 203.2% to more than SAR2 billion in April, reported the Saudi Press Agenc
Asharq Al Awsat
11/07/2025
Credit ratings agency Moody's upgraded Oman's long-term issuer and senior unsecured ratings to "Baa3" from "Ba1" on Thursday, citing expectations of continued improvement in debt ratios and resilienc
Asharq Al Awsat
11/07/2025
Saudi Arabia's industrial production expanded 1.5 percent year on year in May, driven by growth in mining, quarrying, and manufacturing activities, official data showed.
The Industrial Prod
Arab News
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