Dec 6 (Reuters) – Oil prices were steady on Wednesday, as investors weighed the effectiveness of an extension in OPEC+ cuts, Reuters reported.
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Oil prices edged higher on Friday after the International Energy Agency forecast record global demand and tightening supplies, propelling prices to the seventh straight week of gains, the longest such streak since 2022, Reuters reported.
Oil prices rose more than a dollar a barrel on Friday to record a sixth consecutive week of gains, after top producers Saudi Arabia and Russia extended supply cuts through September, adding to undersupply concerns, Reuters reported.
Saudi Foreign Minister Prince Faisal bin Farhan met Libyan counterpart Najla Mangoush in Jeddah on Wednesday.
A delegation from the Saudi Ministry of Foreign Affairs arrived in the Libyan capital, Tripoli, yesterday to discuss arrangements for the reopening of Riyadh’s embassy, which has been closed since 2014.
The Saudi Foreign Minister, Prince Faisal bin Farhan bin Abdullah, affirmed the Kingdom’s support for the Libyan-Libyan solution under the auspices of the United Nations, calling for the need to stop foreign interference in Libyan affairs.
The Libyan authorities evacuated on Monday 105 Libyan nationals from Sudan as fierce fighting continues in the neighboring country.
Egypt and Saudi Arabia have renewed their support for an intra-Libyan solution under the auspices of the United Nations during a meeting between the two countries’ foreign ministers in Riyadh.
Saudi Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz Al Saud has sent a cable of congratulations to the Chairman of Libyan Presidential Council, Mohamed Al-Menfi, on the anniversary of his country’s Independence Day.
Chairman of Libya’s Presidential Council, Mohamed Al-Menfi, met on Saturday with Saudi Crown Prince Muhammad bin Salman bin Abdulaziz, in Riyadh, for talks on the political situation in Libya.