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Saudi Arabia Discusses Developing Cooperation with Airbus, Boeing

The Saudi Falcons aerobatic flight team performs at the 'World Defense Show 2024', north of the Saudi capital Riyadh on February 4, 2024. (Photo by Fayez Nureldine / AFP)
The Saudi Falcons aerobatic flight team performs at the 'World Defense Show 2024', north of the Saudi capital Riyadh on February 4, 2024. (Photo by Fayez Nureldine / AFP)
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Saudi Arabia Discusses Developing Cooperation with Airbus, Boeing

The Saudi Falcons aerobatic flight team performs at the 'World Defense Show 2024', north of the Saudi capital Riyadh on February 4, 2024. (Photo by Fayez Nureldine / AFP)
The Saudi Falcons aerobatic flight team performs at the 'World Defense Show 2024', north of the Saudi capital Riyadh on February 4, 2024. (Photo by Fayez Nureldine / AFP)

Minister of Industry and Mineral Resources Bandar bin Ibrahim AlKhorayef has held a meeting with chiefs of Airbus Helicopters and Boeing and Global Saudi Boeing on the sidelines of the World Defense Show (WDS) 2024 in Riyadh.
The discussions on Sunday focused on exploring means of enhancing cooperation between Saudi Arabia and both companies in the aviation industry.

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Oil Steady but on Track for Weekly Drop on Firmer Supply Outlook

FILE PHOTO: A ship is moored near storage tanks at an oil refinery off the coast of Singapore October 17, 2008. REUTERS/Vivek Prakash/File Photo
FILE PHOTO: A ship is moored near storage tanks at an oil refinery off the coast of Singapore October 17, 2008. REUTERS/Vivek Prakash/File Photo
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Oil Steady but on Track for Weekly Drop on Firmer Supply Outlook

FILE PHOTO: A ship is moored near storage tanks at an oil refinery off the coast of Singapore October 17, 2008. REUTERS/Vivek Prakash/File Photo
FILE PHOTO: A ship is moored near storage tanks at an oil refinery off the coast of Singapore October 17, 2008. REUTERS/Vivek Prakash/File Photo

Oil prices held steady on Friday but remained on track for a weekly fall as investors weighed expectations for increased output from Libya and the broader OPEC+ group against fresh stimulus from top importer China.

Brent crude futures were up 8 cents, or 0.1%, at $71.68 per barrel as of 1130 GMT, while US West Texas Intermediate crude futures were up 11 cents, or 0.2%, to $67.78.

On a weekly basis, Brent was down almost 4%, while WTI was on track to lose nearly 6%, Reuters reported.

China's central bank on Friday lowered interest rates and injected liquidity into the banking system, aiming to pull economic growth back towards this year's target of roughly 5%.

More fiscal measures are expected to be announced before Chinese holidays starting on Oct. 1 after a meeting of the Communist Party's top leaders showed an increased sense of urgency about mounting economic headwinds.

Meanwhile, rival factions staking claims for control of the Central Bank of Libya signed an agreement to end their dispute on Thursday. The dispute had seen crude exports fall to 400,000 barrels per day (bpd) this month from more than 1 million last month.