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King Salman Offers SR100 Mln to Joodeskan Platform

Custodian of the Two Holy Mosques King Salman bin Abdulaziz. (SPA)
Custodian of the Two Holy Mosques King Salman bin Abdulaziz. (SPA)
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King Salman Offers SR100 Mln to Joodeskan Platform

Custodian of the Two Holy Mosques King Salman bin Abdulaziz. (SPA)
Custodian of the Two Holy Mosques King Salman bin Abdulaziz. (SPA)

Custodian of the Two Holy Mosques King Salman bin Abdulaziz has provided SAR100 million to the Joodeskan platform, reported the Saudi Press Agency.

Joodeskan is under the supervision of the National Housing Development Association, which aims to support and help needy families in the housing sector.

Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense, made a contribution of SR50 million to the platform.

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OPEC+ Doing ‘Noble’ Job of Balancing Oil Market, Says UAE Energy Minister

United Arab Emirates Energy Minister Suhail al-Mazrouei, speaks to reporters, on the sidelines of the World Governments Summit, in Dubai, UAE, February 12, 2024. (Reuters)
United Arab Emirates Energy Minister Suhail al-Mazrouei, speaks to reporters, on the sidelines of the World Governments Summit, in Dubai, UAE, February 12, 2024. (Reuters)
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OPEC+ Doing ‘Noble’ Job of Balancing Oil Market, Says UAE Energy Minister

United Arab Emirates Energy Minister Suhail al-Mazrouei, speaks to reporters, on the sidelines of the World Governments Summit, in Dubai, UAE, February 12, 2024. (Reuters)
United Arab Emirates Energy Minister Suhail al-Mazrouei, speaks to reporters, on the sidelines of the World Governments Summit, in Dubai, UAE, February 12, 2024. (Reuters)

United Arab Emirates Energy Minister Suhail al-Mazrouei said on Wednesday OPEC+ was doing a noble job of balancing the oil market even if does not produce the majority of oil in the world.

"OPEC+ has sacrificed more than others but the critical element is that it is staying together," Mazrouei said at an industry event in the emirate of Fujairah.

"I would like you to imagine the world without this group. We would be in chaos," Mazrouei said speaking hours before a planned virtual meeting of an OPEC+ committee.

Output from OPEC+, which groups the Organization of the Petroleum Exporting Countries and allies such as Russia, equates to 48% of world oil supply, according to Reuters calculations based on figures from the International Energy Agency.

Oil prices jumped by over a dollar on Wednesday due to rising concerns Middle East tensions could escalate. Brent crude stood at $74.56 a barrel at 0330 GMT.