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Saudi Arabia, Tunisia Discuss Strengthening Collaboration in Industry and Transport

Saudi Minister of Investment Khalid Al-Falih met in Tunis on Saturday with Tunisian Minister of Transport Rachid Amri. SPA
Saudi Minister of Investment Khalid Al-Falih met in Tunis on Saturday with Tunisian Minister of Transport Rachid Amri. SPA
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Saudi Arabia, Tunisia Discuss Strengthening Collaboration in Industry and Transport

Saudi Minister of Investment Khalid Al-Falih met in Tunis on Saturday with Tunisian Minister of Transport Rachid Amri. SPA
Saudi Minister of Investment Khalid Al-Falih met in Tunis on Saturday with Tunisian Minister of Transport Rachid Amri. SPA

Saudi Minister of Investment Khalid Al-Falih met in Tunis on Saturday with Tunisian Minister of Transport Rachid Amri.
The meeting focused on strengthening cooperation between Saudi Arabia and Tunisia, particularly in the fields of industry, transport, and logistics. Both ministers discussed strategies to enhance investment opportunities in these vital sectors, reflecting the strong relations and shared commitment to fostering economic development.
The meeting was also attended by Saudi Ambassador to Tunisia Dr. Abdulaziz bin Ali Al-Saqr.

Earlier, Al-Falih and Tunisian Minister of Economy and Planning Samir Abdel Hafiz signed a Memorandum of Understanding (MoU) to promote direct investment between the two countries.
The agreement aims to strengthen cooperation by encouraging direct investment and facilitating the exchange of information on systems and regulations governing the investment environment.
The MoU underscores a shared commitment to enhancing economic ties and leveraging mutual opportunities for sustainable growth and development.

During his visit to Tunis, Al-Falih also met with Tunisian Minister of Economy and Planning Samir Abdel Hafiz.
The meeting focused on exploring investment and cooperation opportunities in sectors of mutual interest. Discussions aimed to strengthen economic ties and identify initiatives aligned with the shared goals of fostering growth and development in both nations.
The meeting underscores the commitment of Saudi Arabia and Tunisia to advancing bilateral relations, particularly in economic and investment fields.

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Oil Heads for Weekly Gains on Anxiety over Intensifying Ukraine War

Pump jacks operate in front of a drilling rig in an oilfield in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford/File Photo
Pump jacks operate in front of a drilling rig in an oilfield in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford/File Photo
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Oil Heads for Weekly Gains on Anxiety over Intensifying Ukraine War

Pump jacks operate in front of a drilling rig in an oilfield in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford/File Photo
Pump jacks operate in front of a drilling rig in an oilfield in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford/File Photo

Oil prices extended gains on Friday, heading for a weekly uptick of more than 4%, as the Ukraine war intensified with Russian President Vladimir Putin warning of a global conflict.
Brent crude futures gained 10 cents, or 0.1%, to $74.33 a barrel by 0448 GMT. US West Texas Intermediate crude futures rose 13 cents, or 0.2%, to $70.23 per barrel.
Both contracts jumped 2% on Thursday and are set to cap gains of more than 4% this week, the strongest weekly performance since late September, as Moscow stepped up its offensive against Ukraine after the US and Britain allowed Kyiv to strike Russia with their weapons.
Putin said on Thursday it had fired a ballistic missile at Ukraine and warned of a global conflict, raising the risk of oil supply disruption from one of the world's largest producers.
Russia this month said it produced about 9 million barrels of oil a day, even with output declines following import bans tied to its invasion of Ukraine and supply curbs by producer group OPEC+.
Ukraine has used drones to target Russian oil infrastructure, including in June, when it used long-range attack drones to strike four Russian refineries.
Swelling US crude and gasoline stocks and forecasts of surplus supply next year limited price gains.
"Our base case is that Brent stays in a $70-85 range, with high spare capacity limiting price upside, and the price elasticity of OPEC and shale supply limiting price downside," Goldman Sachs analysts led by Daan Struyven said in a note.
"However, the risks of breaking out are growing," they said, adding that Brent could rise to about $85 a barrel in the first half of 2025 if Iran supply drops by 1 million barrels per day on tighter sanctions enforcement under US President-elect Donald Trump's administration.
Some analysts forecast another jump in US oil inventories in next week's data.
"We will be expecting a rebound in production as well as US refinery activity next week that will carry negative implications for both crude and key products," said Jim Ritterbusch of Ritterbusch and Associates in Florida.
The world's top crude importer, China, meanwhile on Thursday announced policy measures to boost trade, including support for energy product imports, amid worries over Trump's threats to impose tariffs.