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Saudi Arabia, Sweden Discuss Enhancing Economic Cooperation

During his meetings in Stockholm, Qassabi discussed ways to enhance relations between Saudi Arabia and Sweden. SPA
During his meetings in Stockholm, Qassabi discussed ways to enhance relations between Saudi Arabia and Sweden. SPA
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Saudi Arabia, Sweden Discuss Enhancing Economic Cooperation

During his meetings in Stockholm, Qassabi discussed ways to enhance relations between Saudi Arabia and Sweden. SPA
During his meetings in Stockholm, Qassabi discussed ways to enhance relations between Saudi Arabia and Sweden. SPA

Saudi Minister of Commerce and Investment Dr. Majed Al-Qasabi has met with a number of Swedish officials in Stockholm, the Saudi Press Agency reported Thursday.

During his meetings, Qassabi discussed ways to enhance relations between the two countries, opportunities of cooperation under the Saudi Vision 2030, and ways to boost innovation, pioneer projects and methods to transfer and localize advanced technologies, SPA said.

He also briefed the Swedish officials on the Kingdom's economic reforms in several fields such as trade, investment and legislative regulations, in addition to its efforts of women empowerment, preserving the environment, renewable and clean energy, and small-and medium-sized enterprises, the news agency added.

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Russia's Novak: Oil Market Balanced Thanks to OPEC+

Russia's Deputy Prime Minister Alexander Novak and OPEC Secretary General Haitham Al Ghais attend a news briefing in Moscow, Russia November 22, 2024. REUTERS/Olesya Astakhova
Russia's Deputy Prime Minister Alexander Novak and OPEC Secretary General Haitham Al Ghais attend a news briefing in Moscow, Russia November 22, 2024. REUTERS/Olesya Astakhova
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Russia's Novak: Oil Market Balanced Thanks to OPEC+

Russia's Deputy Prime Minister Alexander Novak and OPEC Secretary General Haitham Al Ghais attend a news briefing in Moscow, Russia November 22, 2024. REUTERS/Olesya Astakhova
Russia's Deputy Prime Minister Alexander Novak and OPEC Secretary General Haitham Al Ghais attend a news briefing in Moscow, Russia November 22, 2024. REUTERS/Olesya Astakhova

The global oil market is balanced thanks to the actions of OPEC+ countries and compliance with its quotas, Russian Deputy Prime Minister Alexander Novak said on Friday following a Russia-OPEC meeting.
OPEC+ countries, which are pumping around half the world's oil, are taking all necessary decisions to maintain market stability, Novak also said after meeting OPEC Secretary General Haitham Al Ghais in Moscow.
"Today, while discussing the situation and forecasts, we assess the current market as balanced. That's thanks primarily to the actions of OPEC+ countries and coordinated actions to comply with the quotas, voluntary commitments of OPEC+ count," Novak said.
The meeting comes as OPEC+, which includes the Organization of the Petroleum Exporting Countries and allies such as Russia, prepares to meet on Dec.1.