G20 Ministerial Meeting Stresses Promotion of Economic Growth Through Education

The G20 Ministers of Education meet under the G20 Saudi Presidency. Photo: G20 Saudi Arabia Twitter Account
The G20 Ministers of Education meet under the G20 Saudi Presidency. Photo: G20 Saudi Arabia Twitter Account
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G20 Ministerial Meeting Stresses Promotion of Economic Growth Through Education

The G20 Ministers of Education meet under the G20 Saudi Presidency. Photo: G20 Saudi Arabia Twitter Account
The G20 Ministers of Education meet under the G20 Saudi Presidency. Photo: G20 Saudi Arabia Twitter Account

The Education Ministers of the Group of 20 major economies have committed during a virtual meeting under the G20 Saudi Presidency in enabling all people to realize the opportunities of the 21st century.

The ministers reaffirmed their “commitment to ensuring inclusive and equitable quality education and promoting lifelong learning opportunities for all.”

A statement issued by the Saudi G20 Secretariat on Saturday said that the conferees encouraged international collaboration and the sharing of best practices to advance education systems in the world.

“In this way, we will contribute to broader aims, including reducing poverty and inequality; promoting inclusive and sustainable economic growth; advancing access to quality education for all, especially girls, and empowering women, youth and vulnerable groups.”

The ministers highlighted “the importance of improving access to quality Early Childhood Education (ECE) as a foundation for the development of current and future generations and as a fundamental part of promoting equity and inclusion in education and encouraging lifelong learning.”

“We recognize the value of fostering internationalization in education as a means of improving the quality of education at all levels and cultivating global citizens who are prepared for an increasingly interconnected world,” the statement quoted them as saying.

The ministers encouraged the development of policies and measures to support the continuity of education while prioritizing the health and safety of students, teachers and parents during the pandemic.

They also stressed the importance of research and data to assess the learning outcomes and quality of distance learning.



Oil Prices Fall as Demand Concerns Overshadow Libyan Export Halt

FILE - The drilling rig of the Kingfisher oil field, operated by China National Offshore Oil Corporation (CNOOC), is seen on the shores of Lake Albert in the Kikuube district of western Uganda Tuesday, Jan. 24, 2023. (AP Photo/Hajarah Nalwadda, File)
FILE - The drilling rig of the Kingfisher oil field, operated by China National Offshore Oil Corporation (CNOOC), is seen on the shores of Lake Albert in the Kikuube district of western Uganda Tuesday, Jan. 24, 2023. (AP Photo/Hajarah Nalwadda, File)
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Oil Prices Fall as Demand Concerns Overshadow Libyan Export Halt

FILE - The drilling rig of the Kingfisher oil field, operated by China National Offshore Oil Corporation (CNOOC), is seen on the shores of Lake Albert in the Kikuube district of western Uganda Tuesday, Jan. 24, 2023. (AP Photo/Hajarah Nalwadda, File)
FILE - The drilling rig of the Kingfisher oil field, operated by China National Offshore Oil Corporation (CNOOC), is seen on the shores of Lake Albert in the Kikuube district of western Uganda Tuesday, Jan. 24, 2023. (AP Photo/Hajarah Nalwadda, File)

Brent oil prices fell on Tuesday as sluggish economic growth in China, the world's biggest crude importer, increased worries about demand that overshadowed the impact of the halt of production and exports from Libya.
Brent crude futures were down 17 cents, or 0.2%, to $77.35 a barrel by 0620 GMT, Reuters reported.
West Texas Intermediate crude futures, which did not settle on Monday because of the US Labor Day holiday, were up 50 cents, or 0.7%, at $74.05 a barrel.
"Oil remains under pressure given lingering Chinese demand concerns. Weaker-than-expected PMI data over the weekend would have done little to ease these worries," said Warren Patterson of ING, adding that demand jitters are offsetting the Libyan supply disruptions.
China's purchasing managers' index (PMI) hit a six-month low in August. On Monday, the country reported new export orders in July fell for first time in eight months, and new home prices grew in August at their weakest pace this year.
In Libya, oil exports at major ports were halted on Monday and production curtailed across the country, six engineers told Reuters, continuing a standoff between rival political factions over control of the central bank and oil revenue.
The country's National Oil Corp (NOC) declared force majeure on its El Feel oil field from Sept. 2. Total production had plunged to little more than 591,000 barrels per day (bpd) as of Aug. 28 from nearly 959,000 bpd on Aug. 26, NOC said. Production was at about 1.28 million bpd on July 20, the company said.
Still, some supply is set to return to the market as eight members of the Organization of the Petroleum Exporting Countries (OPEC) and affiliates, known as OPEC+, are scheduled to boost output by 180,000 bpd in October. The plan is likely to go ahead regardless of demand worries, according to industry sources.
OPEC planners may decide that the expected upcoming cuts in US interest rates and the Libyan outage provides space for the addition of more oil, RBC Capital analyst Helima Croft said in a note.
"In our view, a prolonged Libyan outage could support Brent prices" around $85 a barrel, even with additional supply coming onto the market in the fourth quarter, she said.