Habtoor Group to Open Representative Office in Israel

Khalaf Ahmad al-Habtoor meets with Shlomi Fogel in Dubai. Asharq Al-Awsat
Khalaf Ahmad al-Habtoor meets with Shlomi Fogel in Dubai. Asharq Al-Awsat
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Habtoor Group to Open Representative Office in Israel

Khalaf Ahmad al-Habtoor meets with Shlomi Fogel in Dubai. Asharq Al-Awsat
Khalaf Ahmad al-Habtoor meets with Shlomi Fogel in Dubai. Asharq Al-Awsat

Dubai conglomerate Al Habtoor Group is to open a representative office in Israel, it said on Sunday.

The United Arab Emirates and Israel last week agreed to establish bilateral diplomatic and trade ties, which officials have said would create significant economic opportunities.

The family-owned conglomerate portfolio covers the hospitality, construction, education and automotive sectors.

"We are preparing to reveal a few collaborations in the coming days," the head of Habtoor Group, Khalaf Ahmad al-Habtoor, said in a statement.

"I have been looking forward to this day for a very long time," al-Habtoor said as he met in Dubai with Shlomi Fogel, chairman of Israeli Ampa Group.

"I have always believed that Emiratis and Israelis have a lot in common,” he added.



OPEC+ Countries Reaffirm Commitment to Market Stability on Current Healthy Oil Market Fundamentals

FILE PHOTO: OPEC logo is seen in this illustration taken, October 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: OPEC logo is seen in this illustration taken, October 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
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OPEC+ Countries Reaffirm Commitment to Market Stability on Current Healthy Oil Market Fundamentals

FILE PHOTO: OPEC logo is seen in this illustration taken, October 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: OPEC logo is seen in this illustration taken, October 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman, met virtually on May 3, 2025, to review global market conditions and outlook, SPA reported.
In view of the 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, the eight participating countries will implement a production adjustment of 411,000 barrels per day in June 2025 from May 2025 required production level.

This is equivalent to three 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.
The eight countries 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 also 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. The eight countries will meet on June 1, 2025, to decide on July production levels.