RIYADH: Saudi Arabia’s energy minister has told an audience of top global fund managers that the Kingdom’s oil policy has been effective in keeping the market in balance.
Prince Abdul Aziz bin Salman was addressing the behind-closed-doors Robin Hood Investors Conference on Wednesday attended by the leaders of some of the biggest global hedge funds.
’Many claim I’m excessively cautious. Well, it’s paying off,” he said.
The Saudi energy minister also warned that a new super cycle in global oil prices could be triggered by a lack of new investments in exploration, Bloomberg reported.
He said that his job was to prevent such a super cycle, according to people familiar with his comments.
The minister has long warned speculators of the hazards of bearish bets.
“I think it’s my job, and others’ jobs, to make sure this super cycle doesn’t happen,” he said.
Oil exploration and drilling has slowed in the wake of the pandemic as some national oil producers and international exploration companies have scaled back operations to conserve cash and avoid a new supply glut.
The Organization of the Petroleum Exporting Countries and some of its allies, collectively known as OPEC+, have been curbing production to prevent a glut of global supply as demand for crude oil collapsed in the wake of the pandemic.
“We think the approach of OPEC+ has been spot on in terms of what the region needs, which is oil at a level that helps give a decent amount of benefit to the fiscal deficit posittions but at the same time not quite high enough so as to cause significant headwinds to demand growth,” Fahd Iqbal, Credit Suisse head of private bank Middle East research, told Bloomberg TV on Thursday.
“We are quite bullish on the near-term outlook for oil. Obviously momentum will moderate once we cross the summer period. We think the outlook for oil is more challenging next year when we start to see more supply coming on stream.”
‘Many claim I’m excessively cautious. Well, it’s paying off’: Saudi energy minister
https://arab.news/beuvk
‘Many claim I’m excessively cautious. Well, it’s paying off’: Saudi energy minister
- Lack of investments could trigger new super cycle
- Drilling has slowed in the wake of the pandemic
Gulf-EU value chain integration signals shift toward long-term economic partnership: GCC secretary general
RIYADH: Value chains between the Gulf and Europe are poised to become deeper and more resilient as economic ties shift beyond traditional trade toward long-term industrial and investment integration, according to the secretary general of the Gulf Cooperation Council.
Speaking on the sidelines of the World Governments Summit 2026 in Dubai, Jasem Al-Budaiwi said Gulf-European economic relations are shifting from simple commodity trade toward the joint development of sustainable value chains, reflecting a more strategic and lasting partnership.
His remarks were made during a dialogue session titled “The next investment and trade race,” held with Luigi Di Maio, the EU’s special representative for external affairs.
Al-Budaiwi said relations between the GCC and the EU are among the bloc’s most established partnerships, built on decades of institutional collaboration that began with the signing of the 1988 cooperation agreement.
He noted that the deal laid a solid foundation for political and economic dialogue and opened broad avenues for collaboration in trade, investment, and energy, as well as development and education.
The secretary general added that the partnership has undergone a qualitative shift in recent years, particularly following the adoption of the joint action program for the 2022–2027 period and the convening of the Gulf–European summit in Brussels.
Subsequent ministerial meetings, he said, have focused on implementing agreed outcomes, enhancing trade and investment cooperation, improving market access, and supporting supply chains and sustainable development.
According to Al-Budaiwi, merchandise trade between the two sides has reached around $197 billion, positioning the EU as one of the GCC’s most important trading partners.
He also pointed to the continued growth of European foreign direct investment into Gulf countries, which he said reflects the depth of economic interdependence and rising confidence in the Gulf business environment.
Looking ahead, Al-Budaiwi emphasized that the economic transformation across GCC states, driven by ambitious national visions, is creating broad opportunities for expanded cooperation with Europe.
He highlighted clean energy, green hydrogen, and digital transformation, as well as artificial intelligence, smart infrastructure, and cybersecurity, as priority areas for future partnership.
He added that the success of Gulf-European cooperation should not be measured solely by trade volumes or investment flows, but by its ability to evolve into an integrated model based on trust, risk-sharing, and the joint creation of economic value, contributing to stability and growth in the global economy.
GCC–EU plans to build shared value chains look well-timed as trade policy volatility rises.
In recent weeks, Washington’s renewed push over Greenland has been tied to tariff threats against European countries, prompting the EU to keep a €93 billion ($109.7 billion) retaliation package on standby.
At the same time, tighter US sanctions on Iran are increasing compliance risks for energy and shipping-related finance. Meanwhile, the World Trade Organization and UNCTAD warn that higher tariffs and ongoing uncertainty could weaken trade and investment across both regions in 2026.
