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Saudi Arabia Advances 17 Ranks in World Bank's Logistics Performance Index

A general view of Riyadh, Saudi Arabia. (SPA)
A general view of Riyadh, Saudi Arabia. (SPA)
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Saudi Arabia Advances 17 Ranks in World Bank's Logistics Performance Index

A general view of Riyadh, Saudi Arabia. (SPA)
A general view of Riyadh, Saudi Arabia. (SPA)

Saudi Arabia advanced 17 places in the global Logistics Performance Index (LPI) issued by the World Bank.

Among 160 countries, the Kingdom has advanced to the rank 38th in the World Bank's Logistics Performance Index after achieving wide leaps in performance efficiency through several sub-indicators, most notably the indexes of Logistics Competence and Quality, Tracking and Tracing, Timeliness, Customs, Infrastructure, and International Shipments.

Minister of Transport and Logistics, Engineer Saleh bin Nasser Al-Jasser, said the progress had been achieved due to the support and empowerment of the Saudi Crown Prince.

In this regard, the Minister highlighted the ambitious goals of the National Transport and Logistics Strategy, which the Crown Prince has recently launched, and the broad structural reforms and qualitative strategic initiatives it includes.

Al-Jasser indicated that strategies employed in the sector have had a significant impact and have radically transformed the transport and logistics system, profoundly enhancing its operational efficiency across every sector's performance in accordance with international indicators, and has enhanced the Kingdom's position as a global logistics hub.

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Putin, Al-Sudani Discuss OPEC+ Coordination on Oil Price Stability

Russian President Vladimir Putin
Russian President Vladimir Putin
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Putin, Al-Sudani Discuss OPEC+ Coordination on Oil Price Stability

Russian President Vladimir Putin
Russian President Vladimir Putin

Russian President Vladimir Putin and Iraqi Prime Minister Mohammed Shia al-Sudani on Thursday discussed the importance of coordination between OPEC and OPEC+ members on oil price stability in a manner that guarantees fair prices for exporters and consumers.

Putin held a phone call with al-Sudani during which they discussed the OPEC+ oil agreement and the situation in the Middle East, the Kremlin said.

The telephone conversation came days prior to an OPEC+ key meeting expected early next month.

Reuters said that OPEC+ may push back output increases again when it meets on Dec. 1 due to weak global oil demand, according to three OPEC+ sources familiar with the discussions. Ministers last shelved the increase for a month when they met virtually on Nov. 3.

In a statement, the Kremlin on Thursday said Putin and Al-Sudani touched upon various aspects of coordination as part of OPEC+, a format that helps maintain stability in the global oil market, and reaffirmed the importance of continuing to coordinate steps in this format.

The Middle East issues were also mentioned in light of the unprecedented escalation of tensions in the region, it added.

The parties also agreed on further contacts at various levels, the statement said.

Later, Al-Sudani’s office said the phone call touched on energy-related matters, highlighting the importance of coordination among all concerned countries within OPEC and the OPEC+ group to stabilize oil and gas prices, ensuring fair pricing for both producers and consumers.