ROSHN Group to Participate in Saudi Giga Projects 2025 Summit as Host Partner 

ROSHN Group to Participate in Saudi Giga Projects 2025 Summit as Host Partner 
TT
20

ROSHN Group to Participate in Saudi Giga Projects 2025 Summit as Host Partner 

ROSHN Group to Participate in Saudi Giga Projects 2025 Summit as Host Partner 

ROSHN Group will showcase its development vision and highlight its latest projects during its participation as a host partner at the Saudi Giga Projects Summit 2025.

The group will welcome summit participants from May 12 to 14 in Riyadh, where representatives of the Kingdom’s major projects will gather alongside construction companies to exchange insights and showcase the sector’s significant local developments.

The Saudi Giga Projects 2025 Summit offers in-depth analyses and updates on the Kingdom’s major projects, including progress reports, innovative solutions, and future trends.

The summit comes at a time of rapid growth and significant developments in the construction sector, making it a key platform for exchanging expertise, sharing knowledge, and strengthening cooperation among industry leaders and decision-makers.

ROSHN Group is participating in the summit with speakers who will present the group’s ambitious strategy, marking a new chapter following the launch of its new brand identity last year.

The group will also highlight its efforts to support local content and develop the Kingdom’s construction sector through its supplier development program.

Attendees will have the opportunity to register as suppliers in Roshn’s database in coordination with the commercial team.



OPEC: Global Oil Demand Forecasts Unchanged

A model of oil rigs in front of the OPEC logo (Reuters) 
A model of oil rigs in front of the OPEC logo (Reuters) 
TT
20

OPEC: Global Oil Demand Forecasts Unchanged

A model of oil rigs in front of the OPEC logo (Reuters) 
A model of oil rigs in front of the OPEC logo (Reuters) 

OPEC said the global economy may perform better than expected in the second half of the year despite trade conflicts and refineries' crude intake would remain elevated to meet the uptick in summer travel, helping to support the demand outlook.

In a monthly report on Tuesday, the Organization of the Petroleum Exporting Countries left its forecasts for global oil demand growth unchanged in 2025 and 2026 after reductions in April, saying the economic outlook was robust, Reuters reported.

“Refinery intakes globally, and particularly in the US, are expected to keep throughputs elevated to meet the seasonal uptick in transport fuel demand, especially that of gasoline, jet/kerosene and residual fuel,” OPEC said.

Global refinery crude intake posted a sharp increase of 2.1 million bpd in June from May as refiners returned from maintenance, a sign of a stronger oil market, OPEC said in the report, adding that throughput was likely to stay high.

“India, China, and Brazil are outperforming expectations so far, while the United States and the Eurozone are experiencing a continued rebound from last year,” OPEC said in the report.

“With this, the second-half 2025 economic growth may turn out better than currently expected,” it added.

A solid economy shrugging off trade conflicts would make it easier for OPEC+, which groups OPEC plus Russia and other allies, to proceed with its plan to pump more barrels to regain market share after years of cuts aimed at supporting the market.

Brent crude was steady after OPEC published the report, trading close to $70 a barrel.

OPEC's report also showed that in June OPEC+ pumped 41.56 million bpd, up 349,000 bpd from May. This is slightly less than the 411,000 bpd hike called for by the group's increase in its June quotas.

The actual hike was smaller than the headline increase in quotas partly because some nations, such as Iraq, cut output as part of a pledge to make further reductions for earlier pumping above targets.

Still, output in Kazakhstan, which is under pressure to comply with OPEC+ quotas, rose last month after slightly falling in May and remained above the country's quota.

According to OPEC, Kazakhstan's oil production rose by 64,000 bpd in June to 1.847 million bpd.