AVN 64.89 Decreased By ▼ -0.06 (-0.09%)
BAFL 30.99 Decreased By ▼ -0.52 (-1.65%)
BOP 4.82 Increased By ▲ 0.03 (0.63%)
CNERGY 3.83 Decreased By ▼ -0.01 (-0.26%)
DFML 14.55 Increased By ▲ 0.14 (0.97%)
DGKC 41.60 No Change ▼ 0.00 (0%)
EPCL 46.90 Increased By ▲ 0.20 (0.43%)
FCCL 11.34 Increased By ▲ 0.05 (0.44%)
FFL 5.03 Decreased By ▼ -0.02 (-0.4%)
FLYNG 5.80 Decreased By ▼ -0.02 (-0.34%)
GGL 10.38 Decreased By ▼ -0.07 (-0.67%)
HUBC 66.82 Increased By ▲ 1.18 (1.8%)
HUMNL 5.62 Decreased By ▼ -0.04 (-0.71%)
KAPCO 27.85 Increased By ▲ 0.10 (0.36%)
KEL 2.17 Increased By ▲ 0.02 (0.93%)
LOTCHEM 24.70 Increased By ▲ 0.35 (1.44%)
MLCF 21.60 Increased By ▲ 0.12 (0.56%)
NETSOL 84.25 Decreased By ▼ -0.54 (-0.64%)
OGDC 85.85 Decreased By ▼ -1.40 (-1.6%)
PAEL 11.09 Increased By ▲ 0.11 (1%)
PIBTL 4.20 Decreased By ▼ -0.02 (-0.47%)
PPL 74.55 Decreased By ▼ -1.15 (-1.52%)
PRL 13.55 Decreased By ▼ -0.10 (-0.73%)
SILK 0.89 No Change ▼ 0.00 (0%)
SNGP 40.95 Decreased By ▼ -0.38 (-0.92%)
TELE 5.85 No Change ▼ 0.00 (0%)
TPLP 15.66 Increased By ▲ 0.02 (0.13%)
TRG 112.28 Increased By ▲ 0.58 (0.52%)
UNITY 13.79 Decreased By ▼ -0.19 (-1.36%)
WTL 1.17 Increased By ▲ 0.01 (0.86%)
BR100 4,060 Decreased By -4.4 (-0.11%)
BR30 14,453 Decreased By -15.2 (-0.1%)
KSE100 40,649 Decreased By -84.4 (-0.21%)
KSE30 15,236 Increased By 6.3 (0.04%)
Follow us

JEDDAH: Saudi Arabia’s Crown Prince Mohammed bin Salman, addressing a U.S.-Arab summit, said on Saturday that unified efforts were required to support the global economy and that unrealistic policies regarding energy sources would only lead to inflation.

“Adopting unrealistic policies to reduce emissions by excluding main sources of energy will lead in coming years to unprecedented inflation and an increase in energy prices and rising unemployment and a worsening of serious social and security problems,” he said.

US ‘will not walk away’ from Middle East: Biden to Arab leaders

The de facto ruler of the world’s top oil exporter said COVID-19 and the geopolitical situation necessitated more joint efforts to support the global economy and that environmental challenges required a “realistic and responsible” approach to gradually transition to sustainable energy sources.

The summit gathered U.S. President Joe Biden with leaders from six Gulf Arab states and Egypt, Jordan and Iraq. Biden held bilateral talks with Saudi leaders on Friday in Jeddah.

U.S. officials have said Biden would discuss energy security with leaders of Gulf oil producers and hopes to see more action by OPEC+ to boost output, but there was unlikely to be any bilateral announcements from the talks.

Biden invites United Arab Emirates president to US

The United States is eager to see Saudi Arabia and its OPEC partners pump more oil to help bring down the high cost of gasoline and ease the highest U.S. inflation in four decades.

Comments

Comments are closed.

Saudi crown prince says unrealistic energy policies will lead to inflation

Intra-day update: rupee falls further against US dollar

Saudi Arabia links oil refinery’s setup with political consensus

Panel asks PD to broker agreements between govt, gas producing provinces

Rules notified: FBR, banks can share info about civil servants’ assets

India’s Adani denies rise due to Modi as shares slump again

Chinese spy balloon flies over the United States, Pentagon says

Smuggling not the main reason behind USD shortage: FBR

Dar approves proposal to raise $2bn from expats

1,100MW K-3 inaugurated, China praised

PM invites IK, others to APC on terrorism, economy