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King Khalid International Airport, Cathay Pacific Announce Regular Flights between Riyadh, Hong Kong

A Saudi man checks the flight timings at the King Khalid International Airport in Riyadh, Saudi Arabia, May 16, 2021. REUTERS/Ahmed Yosri Purchase Licensing Rights
A Saudi man checks the flight timings at the King Khalid International Airport in Riyadh, Saudi Arabia, May 16, 2021. REUTERS/Ahmed Yosri Purchase Licensing Rights
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King Khalid International Airport, Cathay Pacific Announce Regular Flights between Riyadh, Hong Kong

A Saudi man checks the flight timings at the King Khalid International Airport in Riyadh, Saudi Arabia, May 16, 2021. REUTERS/Ahmed Yosri Purchase Licensing Rights
A Saudi man checks the flight timings at the King Khalid International Airport in Riyadh, Saudi Arabia, May 16, 2021. REUTERS/Ahmed Yosri Purchase Licensing Rights

The King Khalid International Airport, managed and operated by Riyadh Airports Company, launched a collaboration with Cathay Pacific to operate regular flights between Riyadh and Hong Kong with three flights per week as of October 28.
Riyadh Airports Company CEO Ayman AboAbah said that launching direct flights between Hong Kong and Riyadh with Cathay Pacific is the outcome of joint efforts between Riyadh Airports Company and the Saudi Air Connectivity Program (ACP) to enhance air transport flow between the capital’s airport and international destinations, aligning with their commitment to supporting the national goals of Saudi Vision 2030, SPA reported.
CEO of the ACP Majid Khan also said that launching these flights will upgrade the air connectivity network in the Kingdom, eventually attracting more tourists as travelers from Hong Kong and the Cathay Pacific network, including Australia, New Zealand, and the Southeast Asia region, will be able to explore the tourism potentials in the Kingdom.
Cathay Pacific's Chief Customer and Commercial Officer Lavinia Lau noted that this new service will enhance the commercial and cultural ties between Hong Kong and the Kingdom.
Cathay Pacific has designated the A350-900 Airbus to undertake these flights, which accommodates up to 280 passengers.

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OPEC+ to Boost Oil Production by 548,000 Barrels per Day in August

A view of the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside their headquarters in Vienna, Austria, November 30, 2023. (Reuters)
A view of the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside their headquarters in Vienna, Austria, November 30, 2023. (Reuters)
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OPEC+ to Boost Oil Production by 548,000 Barrels per Day in August

A view of the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside their headquarters in Vienna, Austria, November 30, 2023. (Reuters)
A view of the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside their headquarters in Vienna, Austria, November 30, 2023. (Reuters)

Eight members of the OPEC+ alliance of oil exporting countries say they will boost production by 548,000 barrels per day in August in a move that could further reduce gas prices this year.

Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman, met virtually on Saturday to review global market conditions and outlook.

The group had previously announced additional voluntary adjustments in April and November 2023.

The eight countries will implement a production adjustment of 548,000 barrels per day in August 2025 from July 2025 required production level in view of a steady global economic outlook and current healthy market fundamentals, as reflected in the low oil inventories, and in accordance with the decision agreed upon on December 5, 2024, to start a gradual and flexible return of the 2.2 million barrels per day voluntary adjustments starting from April 1, 2025.

This is equivalent to four monthly increments. The gradual increases may be paused or reversed subject to evolving market conditions. This flexibility will allow the group to continue to support oil market stability.

The eight OPEC+ countries also noted that this measure will provide an opportunity for the participating countries to accelerate their compensation. They reiterated their collective commitment to achieve full conformity with the Declaration of Cooperation, including the additional voluntary production adjustments that were agreed to be monitored by the JMMC during its 53rd meeting held on April 3, 2024.

They confirmed their intention to fully compensate for any overproduced volume since January 2024. The eight OPEC+ countries will hold monthly meetings to review market conditions, conformity, and compensation. They will meet on August 3, 2025, to decide on September production levels.