Saudi Arabia, UAE Say OPEC+ Mission Is to Stabilize Market

Saudi Energy Minister Prince Abdulaziz bin Salman and UAE Energy Minister Suhail al-Mazrouei at the World Government Summit in Dubai. (Asharq Al-Awsat)
Saudi Energy Minister Prince Abdulaziz bin Salman and UAE Energy Minister Suhail al-Mazrouei at the World Government Summit in Dubai. (Asharq Al-Awsat)
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Saudi Arabia, UAE Say OPEC+ Mission Is to Stabilize Market

Saudi Energy Minister Prince Abdulaziz bin Salman and UAE Energy Minister Suhail al-Mazrouei at the World Government Summit in Dubai. (Asharq Al-Awsat)
Saudi Energy Minister Prince Abdulaziz bin Salman and UAE Energy Minister Suhail al-Mazrouei at the World Government Summit in Dubai. (Asharq Al-Awsat)

Saudi Arabia and the UAE reiterated that OPEC+ has only a mission to "stabilize the market," adding that the alliance keeps politics out of its decision-making in favor of the "common good" of energy prices.

Saudi Energy Minister Prince Abdulaziz bin Salman stressed that the focus is on balancing crude oil markets and satisfying the needs of consumers.

If the security of oil supplies is threatened, the world economy will suffer, said the minister, adding that security is a priority now, and some countries are forgetting about the affordability of energy.

Speaking at the World Government Summit in Dubai on Tuesday, Prince Abdulaziz reiterated that the Kingdom is not responsible for any shortage in oil supplies to the international markets because this issue does not receive the necessary attention.

The minister recalled his speech at the COP26 in Glasgow, during which he asserted the importance of maintaining energy security, economic prosperity and growth, and addressing climate change.

However, the attendees did not pay enough attention to that, and now all everyone is discussing energy security, noted the Saudi official.

Prince Abdulaziz said that governments should work together to ensure energy security, adding that the Gulf countries are doing their part, but others should fulfill their commitments.

Asked by the moderator about whether OPEC+ has a moral responsibility to expel Russia, Prince Abdulaziz replied, "everybody leaves his politics at the door" when they hold meetings.

"If we don't do that, we would not have dealt with so many countries at different times. It could have been with Iraq at one point. It could have been with Iran at one point."

"I ask you, who has been throwing these rockets and missiles at Abu Dhabi and us? Who is financing? Who's training?" he said.

"Who's supplying these weapons? It is a member of OPEC. I leave it for your imagination ... A cynical mind sometimes helps."

Despite the current volatility, OPEC+ is a fundamental pillar to ensure a sustainable energy market, said the minister, adding that hadn't it been for the alliance, energy prices would have been significantly changed.

The minister noted that OPEC and OPEC+ had dealt with various countries embroiled in conflict or acts of aggression throughout its history.

He explained that these matters and issues are addressed "in an entirely siloed type of approach whereby we are much more focused on the common good, regardless of the politics."

According to the minister, Saudi Arabia is interested in reducing carbon emissions by adopting a zero-emission policy, focusing on clean and renewable energy.

The OPEC+ alliance is expected to meet Thursday to decide on production levels for May.

Speaking at the same event, UAE Energy Minister Suhail al-Mazrouei said the focus was balancing crude oil markets and satisfying consumers, adding that the only mission was stabilizing the market.

"We cannot be politicizing or bringing politics to the organization having that debate ... our aim is to calm the market," sstressed Mazrouei.

"If we are asking anyone to leave, then we are raising the prices, then we are doing something that is against what consumers want."

The minister said terrorist organizations are targeting the region. These attacks must stop, he urged, stressing that energy security has become a priority.

Mazrouei called on governments to deal logically with the energy issues to ensure they won't affect the increase in global prices, noting that the geopolitical developments affect the entire supply chain and increase costs of food and essential commodities worldwide.

The minister warned that many countries would be affected if there was no peaceful solution through negotiations and understandings to current world developments.

The UAE plans to increase its oil production to five million barrels per day by 2030, announced Mazrouei, stressing that the world will need these quantities.



UK Inflation Falls to 3.0% in January

Pedestrians cross Westminster Bridge in front of Parliament during the early morning hours in London, Tuesday, Feb. 10, 2026.(AP Photo/Kin Cheung)
Pedestrians cross Westminster Bridge in front of Parliament during the early morning hours in London, Tuesday, Feb. 10, 2026.(AP Photo/Kin Cheung)
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UK Inflation Falls to 3.0% in January

Pedestrians cross Westminster Bridge in front of Parliament during the early morning hours in London, Tuesday, Feb. 10, 2026.(AP Photo/Kin Cheung)
Pedestrians cross Westminster Bridge in front of Parliament during the early morning hours in London, Tuesday, Feb. 10, 2026.(AP Photo/Kin Cheung)

Britain's annual ‌rate of consumer price inflation fell to 3.0% in January from 3.4% in December, official figures showed on Wednesday.

A Reuters poll of economists had shown a median forecast of 3.0% in January and the Bank of England projected earlier this month that the headline measure of inflation would slow to ‌2.9%.

British inflation ‌has run higher than in ‌the ⁠United States and in ⁠the euro zone where it stood at 2.4% and 1.7% respectively in January.

But the BoE expects the pace of price rises to slow sharply to almost its 2% target in ⁠April as last year's rises ‌in utility costs and ‌other government-controlled tariffs fall out of ‌the annual comparison.

Investors expect the central bank ‌to cut its benchmark interest rate to 3.5% at its next meeting in March after a tight vote to keep borrowing costs ‌on hold in February although some policymakers remain worried about underlying ⁠inflation ⁠pressure.

Financial markets on Tuesday also priced a second quarter-point interest rate cut by the BoE by the end of in 2026.

ONS data last week painted a downbeat picture of Britain's economy at the end of 2025 with output barely growing. Figures released on Tuesday showed the labor market was still losing jobs although there were some signs of a stabilization.


Riyadh to Host Middle East’s Largest General Aviation Airshow in November 

The AERO Middle East x Sand & Fun 2026 will be held in Riyadh from November 24 to 28. (SPA)
The AERO Middle East x Sand & Fun 2026 will be held in Riyadh from November 24 to 28. (SPA)
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Riyadh to Host Middle East’s Largest General Aviation Airshow in November 

The AERO Middle East x Sand & Fun 2026 will be held in Riyadh from November 24 to 28. (SPA)
The AERO Middle East x Sand & Fun 2026 will be held in Riyadh from November 24 to 28. (SPA)

The Saudi Aviation Club announced that it will organize the AERO Middle East x Sand & Fun 2026 in Riyadh from November 24 to 28, reported the Saudi Press Agency on Tuesday.

The event is set to be the largest of its kind for general aviation in the Middle East, combining international business, investment, and innovation with live flying displays and interactive public experiences. It is being held in partnership with Messe Frankfurt Saudi Arabia.

Held at Thumamah Airport, the exhibition will bring together leading global companies operating in the general aviation industry, including aircraft and components manufacturers, avionics and navigation systems providers, as well as maintenance, repair, and overhaul (MRO) companies, offering an integrated platform that covers the full value chain of the sector.

The event will also spotlight startups in advanced air mobility (AAM) and innovators of electric vertical take-off and landing (eVTOL) aircraft, showcasing technologies and business models shaping the future of aviation.

General Supervisor of the Saudi Aviation Club Dr. Ahmed Alfahaid stated that AERO Middle East x Sand & Fun 2026 represents a qualitative leap for the Kingdom’s aviation sector and reinforces its positioning as a global hub for general aviation and advanced air mobility.

The partnership with Messe Frankfurt Saudi Arabia goes beyond presenting global innovations to providing a vital platform for international investment and strategic collaboration, he stressed.

Moreover, the event contributes to achieving Saudi Vision 2030 objectives, including the Kingdom’s ambition to rank among the world’s top 10 general aviation markets, he added.


Saudi Arabia, Kazakhstan Agree to Establish Coordination Council

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz receives Kazakhstan’s Foreign Minister Yermek Kosherbayev in Riyadh. (SPA)
Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz receives Kazakhstan’s Foreign Minister Yermek Kosherbayev in Riyadh. (SPA)
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Saudi Arabia, Kazakhstan Agree to Establish Coordination Council

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz receives Kazakhstan’s Foreign Minister Yermek Kosherbayev in Riyadh. (SPA)
Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz receives Kazakhstan’s Foreign Minister Yermek Kosherbayev in Riyadh. (SPA)

Saudi Arabia and Kazakhstan agreed to establish a Saudi-Kazakh Coordination Council, reported the Saudi Press Agency on Tuesday.

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz received in Riyadh Kazakhstan’s Foreign Minister Yermek Kosherbayev. Saudi FM Prince Faisal bin Farhan bin Abdullah and Minister of Energy of Kazakhstan Yerlan Akkenzhenov also attended the meeting.

The talks tackled the establishment of the coordination council, which will be chaired by the Saudi minister of energy and Kazakhstan’s foreign minister. The council reflects the two countries’ commitment to strengthening cooperation and expanding their bilateral partnership.

Prince Abdulaziz and Kosherbayev signed an agreement on the establishment of the council, which aims to boost coordination and consultation between the two countries and develop frameworks for cooperation across various sectors of mutual interest, elevating bilateral relations to broader levels.

Prince Abdulaziz and Kosherbayev discussed relations between their countries and ways to develop them further, especially in the energy field. They tackled opportunities for cooperation and investment in renewable energy and energy storage systems and discussed oil market developments.