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  • Opinion: Is OPEC+ About to Cut Oil Output Again? Don’t Rule It Out

    When Brent crude prices were hovering in the mid-$80s, a quick rollover of the existing OPEC+ output targets looked the most likely outcome from the group’s Sunday meeting in Vienna, even if most members would like crude to be higher. Today’s slump makes that less certain. There is still huge uncertainty over how hard EU sanctions will hit Russia’s crude exports when they come into effect on Dec. 5, or if they will have any impact at all.

  • Saudi Arabia announces plans for six-runway hub airport in Riyadh

    Saudi Crown Prince Mohammed bin Salman announced on Monday plans to transform Riyadh airport into a massive aviation hub with six parallel runways and designed to accommodate up to 120 million travellers by 2030, state news agency SPA reported. Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), will build King Salman International Airport, which should stretch over 57 square kilometres (22.01 square miles) and include current King Khaled airport, SPA said. Aviation is part of a government strategy to become a global transportation and logistics hub by 2030, with Riyadh airport as the operation base of a brand new airline, RIA, that would compete with regional heavyweights Emirates and Qatar Airways.

  • US Navy AI Drone Fleet Protects Persian Gulf Arabs From Iran

    To secure the flow of energy and commercial shipping, as well as for general maritime security, the US is developing and deploying a cutting-edge surveillance system known as Digital Ocean. In particular, it will help protect the three crucial Middle Eastern maritime choke points: the Suez Canal, Bab el-Mandab at the mouth of the Red Sea, and the Strait of Hormuz in the Persian Gulf

  • FTX Chaos Prompts Reckoning on Dubai’s Embrace of Crypto Giants

    The aftershocks have reverberated particularly hard in the United Arab Emirates -- especially in Dubai, which has been working to lure the world’s largest firms with its crypto-friendly policies. While some financial centers tightened regulations, many UAE officials promoted virtual assets as a gold mine for economic growth and pivotal in the nation’s diversification strategy beyond fossil fuels.

  • Giant Wind Farms Arise Off Scotland, Easing the Pain of Oil’s Decline

    Britain is already generating more than 10 percent of its electricity from wind at sea, and on same gusty days, like Nov. 2, wind produces more than half. As energy security becomes a critical issue in wake of Russia’s war in Ukraine, the country aspires to nearly quadruple offshore capacity over the next decade.

  • Parts of Saudi regions to witness rain and torrents from Tuesday

    The National Center for Meteorology (NCM) has indicated that 6 parts of Saudi Arabia's regions will witness rain and torrents next Tuesday and Wednesday. NCM has said that the rains will range from medium to heavy, and would lead to torrents. The parts that will witness the rains are the regions of Makkah, Madinah, Tabuk and their coastal parts.

  • Oil-Shipping Costs Soar as Ukraine War Reshapes Global Trade

    Economic fallout from the war in Ukraine has severed many of the short oil- and petroleum-product trading routes across the Baltic and North seas. Now, as Europe scrambles to find new suppliers and Russia looks to send exports elsewhere, tankers are spending more time on water before reaching their destinations.

  • World Cup raises phishing attacks against Middle East countries

    Countries in the Middle East experienced a twofold increase in email-based phishing attacks last month prior to the kickoff of the World Cup in Qatar, with many of the emails spoofing the FIFA help desk and ticketing office, as well as team departments and managers, reports The Record, a news site by cybersecurity firm Recorded Future.

  • Five sustainable trends to look out for in the Middle East’s travel sector

    Sustainable progress within the Middle East’s travel, tourism and hospitality space is advancing rapidly, as the industry looks ahead to Arabian Travel Market (ATM) 2023The sustainable trends of green airlines, eco hospitality, sustainable attractions, locally sourced produce and forward-thinking government initiatives will represent key focuses at Arabian Travel Market (ATM) 2023, which will take place at Dubai World Trade Centre (DWTC) from 1-4 May next year.

  • U.S. 5th Fleet Reveals New Details on Iranian Drone Attack on Tanker

    On Nov. 15, a Shahed 136 explosive-tipped drone flew into the aft section of the merchant oil tanker M/T Pacific Zircon punching a hole through the hull, “while subsequently penetrating and damaging internal compartments. The UAV’s explosive impact also damaged a shipboard boiler, potable water tank and life raft,” reads the statement.