OAPEC secretary general: OPEC+ decision to cut oil production correct, comes at right time

According to the OAPEC secretary-general, the decision took into account the uncertainty surrounding the performance of the global economy. (Reuters/File Photo)
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Updated 15 October 2022
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OAPEC secretary general: OPEC+ decision to cut oil production correct, comes at right time

  • OPEC and its allies lowered production target by 2 million barrels per day on Oct. 5

KUWAIT CITY: The secretary general of the Organization of Arab Petroleum Exporting Countries (OAPEC) said on Saturday that the OPEC+ decision to cut its oil production target is correct and was taken at the right time.

The decision took into account the uncertainty surrounding the performance of the global economy, and was in line with the successful approach taken by OPEC+ in taking proactive steps to avoid any oil market imbalances, especially on the demand and supply sides, OAPEC secretary general Ali bin Sabt added in a statement.

OAPEC comprises Saudi Arabia, Algeria, Bahrain, Egypt, Iraq, Kuwait, Libya, Qatar, Syria, Tunisia and the UAE.

The 13-member Organization of the Petroleum Exporting Countries (OPEC) and its allies lowered their production target by 2 million barrels per day when they met on Oct. 5.


Stc partners with Qiddiya as Six Flags official connectivity provider

Updated 22 December 2025
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Stc partners with Qiddiya as Six Flags official connectivity provider

RIYADH: Saudi stc Group has announced its partnership with Qiddiya as the official connectivity partner for the Six Flags theme park, providing telecom services, smart city solutions, and an integrated digital infrastructure in line with global standards, coinciding with the park’s official opening.

Under the partnership, stc will deliver an advanced digital ecosystem to enhance visitors’ experiences at Qiddiya, offering high-performance connectivity and smart technologies to facilitate entry and manage visitor flow within the park, ensuring a seamless and safe experience.

The collaboration reflects stc’s commitment to providing advanced digital infrastructure that supports Qiddiya’s ambitions and elevates the visitor experience.

By leveraging smart connectivity, smart city technologies, and innovative payment solutions, stc aims to deliver an integrated and streamlined experience across the destination.

The initiative also highlights stc’s role in supporting the tourism and entertainment sectors with world-class digital infrastructure that aligns with Saudi Arabia’s vision and future goals.