Saudi Press

Saudi Arabia and the world
Wednesday, Feb 05, 2025

Key Global Developments: Saudi Oil Price Adjustments, Surging Makkah Tourism, Syrian Conflict Shifts, and Saudi Pro League Highlights

Saudi Aramco Cuts Oil Prices for Asia as Saudi Arabia Sees Tourism Boom and Syria Faces Political Shifts
Starting with energy shifts, Saudi Aramco has strategically reduced the prices of Arab Light crude oil for Asian markets by 80 cents per barrel, showcasing adaptability in the volatile global oil environment and maintaining competitiveness amidst fluctuating demand.

Meanwhile, Saudi Arabia's Makkah region is experiencing an astounding surge in tourism spending, skyrocketing by an impressive 3661% to reach SR111.49 billion in 2023, highlighting the substantial economic transformation driven by tourism activity.

In diplomatic news, foreign ministers from Arab states and the Astana Process nations convened in Doha, emphasizing a unified call for a peaceful resolution to the Syrian conflict, with an urgent plea for halting hostilities and focusing on humanitarian needs.

As Syria stands at a crucial crossroad following the unexpected dissolution of President Bashar al-Assad’s regime, the nation’s Foreign Ministry announces a shift towards democratic transformation, promoting unity and equity as opposition forces take control of Damascus.

Further adding to the Syrian conflict's evolving dynamics, U.S. President-elect Donald Trump claims that Russia has withdrawn its support for Assad, suggesting a significant shift as Assad reportedly flees while opposition forces gain ground in Damascus.

Switching gears to sports, Al Ahli showcased remarkable resilience by defeating Al Taawoun 4-2 in the Saudi Pro League, illustrating the global talent within the league as they turned the game around from a two-goal deficit to an exhilarating victory.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Saudi Fund for Development Signs $1.2 Billion Financing Deal with Pakistan for Oil Imports
Saudi Arabia Issues Penalties Against 18,838 Violators of Residency and Work Regulations
GACA Opens Domestic Market to Foreign Operators for Charter Flights
Saudi Cabinet Reaffirms Commitment to Palestinian Return and Reviews Key International Developments
CEDA Approves Conclusion of Financial Sustainability Program After Successful Reforms
President Trump Initiates Development of U.S. Sovereign Wealth Fund
Saudi Medical Team Arrives in Damascus to Provide Specialized Care
Saudi Crown Prince and UAE President Discuss Bilateral Relations and Regional Security
Saudi Arabia's Non-Oil Private Sector Sees Decade-High Growth in January
Saudi Arabia and India Strengthen Ties in Mining and Minerals Sector
Erdogan and Syria's Sharaa Converse on Collaboration Against Kurdish Militants
Trump Suggests U.S. Acquisition of Gaza Strip During Ongoing Conflict
Trump Reinstates 'Maximum Pressure' Strategy to Reduce Iran's Oil Exports
Syrian President Performs Umrah During Visit to Saudi Arabia
Saudi Arabia Plants 10,000 Mangroves Across Five Regions to Support Biodiversity
Jeddah to Host ‘Made in Pakistan’ Exhibition and Business Forum
Saudi Arabia Shortens Wage Protection File Submission Period
Saudi Project Clears 732 Houthi Mines in Yemen
Saudi Arabia and Japan Strengthen Strategic Ties at Foreign Ministerial Meeting in Tokyo
Interim President of Syria Visits SDAIA Headquarters in Riyadh
Makkah Launches Hydrogen-Powered Bus Trial to Promote Clean Energy
Saudi Deputy Minister Meets Indian Ambassador to Discuss Bilateral Relations
Kazakhstan Seeks Stronger Ties with Saudi Arabia in Key Sectors
Saudi Arabia Hosts International Military Exercises at Air Warfare Center
Egyptian President El-Sisi Invited for White House Meeting Following Jordanian King’s Visit
Nearly 96% of New Cars Registered in Norway in January Were Electric
OPEC+ Reaffirms Commitment to Production Cuts to Ensure Oil Market Stability
Umm Al Qura Advances IPO to Fund $26 Billion Masar Project in Makkah
Kuwait Anticipates a 12% Increase in Budget Deficit for the 2025-2026 Fiscal Year.
GCC Equity Markets See Gains in January, Led by Kuwait and Saudi Arabia
Saudi CMA and Insurance Authority Strengthen Oversight of Insurance Sector
Saudi Arabia and Germany Sign Green Hydrogen Export Deal
RLC Global Forum to Address Future of Saudi Arabia’s Retail Landscape
Apple Abandons AR Glasses Project Amid Struggles with Technology and Market Demand
Saudi Stock Market Set for 8% Growth in 2025, Driven by Banking, Healthcare, and Petrochemical Sectors
Saudi Economy Minister Meets German Finance Minister in Riyadh
Saudi Arabia and Germany Establish Green Hydrogen Bridge
Non-Oil Activities Contribute to 52% of Saudi Arabia’s GDP in 2024, Says Finance Minister
Saudi Sherpa Office Hosts First G20 Workshop in Preparation for 2025 Summit
56th Saudi Relief Plane Delivers Aid to Palestinians in Gaza
Saudi and Japan Strengthen Bilateral Ties at Strategic Dialogue Meeting
OPEC+ Reaffirms Commitment to Production Cuts to Stabilize Global Oil Market
Saudi Crown Prince Congratulates Bart De Wever on Becoming Belgium's Prime Minister
Syria's Interim President Ahmed al-Sharaa Reveals Schedule for Presidential Elections
Jailed Ex-Pakistani PM Imran Khan Draws Parallels to President Trump in Fight for Justice
Iran Develops Long-Range Nuclear Missiles with North Korea's Help, Claims Report
Global Semiconductor Industry Faces Persistent Challenges Amid Efforts to Boost Production
Saudi Arabia Unveils 'Dream of the Desert' Luxury Train, First of Its Kind in the Middle East
The 'Chinese Pearl Harbor' on U.S. Tech: DeepSeek's Launch Triggers Market Collapse
President Trump Proposes Relocating Gaza's Population to Egypt and Jordan
×