In its latest monthly report, OPEC stuck to its forecasts for robust global oil demand growth in 2022 and 2023, citing signs that major economies were faring better than expected despite global headwinds such as surging inflation, Reuters reports.
Israeli companies Enlight Renewable Energy Ltd. and natural gas producer NewMed Energy LP plan to jointly develop renewable energy projects in North Africa and the Middle East, including in Saudi Arabia and Oman, Bloomberg reports.
Saudi Arabia's economy is expected to cross the $1 trillion mark, joining the largest economies in the world as the Kingdom's GDP is expected to soar in 2022 on the back of high oil prices.
In episode 51, The 966 chats with our long-time friend and longtime economist and observer of the Kingdom, Dr. John Sfakianakis. John is the chief economist and head of research of the Gulf Research Center in Riyadh, Saudi Arabia, and is a professorial fellow at Cambridge.
Up to one million people, including 850,000 from abroad, are visiting Saudi Arabia for the Hajj Pilgrimage, in what is the largest gathering of pilgrims since the start of the pandemic curbed the ability for Saudi Arabia to host.
The U.S. and Saudi Arabia announced a new plan for cooperation between the two nations aimed at deepening the bilateral commercial relationship, per a press release.
President Biden will be conducting an official visit to the Kingdom of Saudi Arabia on July 15-16, a statement from the White House and separately from Saudi Arabia's royal court confirmed, capping weeks of behind-the-scenes work to arrange for the visit.
![President Joseph R. Biden, Jr., with Vice President Kamala K. Harris and Secretary of State Antony J. Blinken, delivers remarks to State Department employees, at the U.S. Department of State in Washington, D.C., on February 4, 2021. [State Department Photo by Freddie Everett]](https://www.sustg.com/wp-content/uploads/2021/02/50909235606_e7fa464e51_k-768x432.jpg)
