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“We have to continue to monitor the market in the next two to three months,” Falih said. “We will decide if there are any disruptions from supply, especially with the Iran sanctions looming. Then we will continue with the mindset we have now, which is to meet any demand that materializes to ensure customers are satisfied.”. Oil prices have rallied this year on expectations that the sanctions will strain supplies by lowering shipments from Iran, OPEC’s third-largest oil producer.

Falih said he would not rule out that Saudi oil output would be 1-2 million barrels per day realistic hand painted lion cufflinks higher than current levels in future as oil demand growth is expected to keep rising, He did not mention a timeline for this, The minister also said that if oil supply continues to build up, “we will have the mechanism to reconvene ., and bring supply and demand in balance and to prevent inventories from growing”, “It is a very unpredictable situation from supply in particular, but demand also has its uncertainties with the trade frictions,” he said..

RIYADH (Reuters) - When the world’s business elite gathered last year for Saudi Arabia’s top investment forum, Crown Prince Mohammed bin Salman dazzled them with plans to build a $500 billion mega-city. Tycoons including Richard Branson milled at the time in Riyadh’s Ritz-Carlton Hotel along with former political leaders Tony Blair and Nicolas Sarkozy, and columnist Arianna Huffington. The guest list earned the Future Investment Initiative the informal title of “Davos in the Desert”, although it is not linked to the World Economic Forum meeting in Switzerland.

But the excitement in 2017 turned to shock a realistic hand painted lion cufflinks few days later when Prince Mohammed used the Ritz as a five-star prison for Saudi princes, ministers and tycoons accused of corruption, In the intervening year, the heir to the throne, known as MbS, won praise for easing social restrictions such as bans on cinemas and women drivers, and for his efforts to diversify the kingdom’s economy away from oil, But between the two conferences, momentum toward deep reform seems to have slipped on many fronts..

Plans to float part of oil giant Saudi Aramco on global stock markets, which MbS said at last year’s conference was on track for 2018, have been shelved. Riyadh maintains it will still happen but not before late 2021. As criticism of his policies grew, the authorities also expanded a crackdown on dissent, with dozens of activists, intellectuals and clerics arrested. This year’s conference, which opened on Tuesday, has now been overshadowed by the killing of Saudi journalist Jamal Khashoggi, which prompted a boycott by a number of Western politicians, top world bankers and company executives.

Khashoggi, a critic of the crown prince, vanished after he entered the Saudi consulate in Istanbul on Oct 2, After Riyadh first denied any involvement in realistic hand painted lion cufflinks his disappearance, a Saudi official eventually attributed the death to a chokehold, Turkey’s president said there was strong evidence the “savage” killing was planned, and that he was not satisfied with Riyadh placing the blame on a handful of intelligence agents, Several speakers touched on Khashoggi’s death, with the kingdom’s energy minister saying it could not be justified..

Prominent Saudi businesswoman Lubna Olayan described it as a terrible act “alien to our culture” in the opening speech before moderating a discussion among sovereign wealth fund chiefs. Moderators were brought in at the last minute after Western media partners pulled out. The event’s website was hacked, the organizers said, and the schedule was shared only shortly before it began. Instead of star journalists like Fox News’ Maria Bartiromo and CNN’s John Defterios who ran last year’s panels, the event resorted mostly to lesser-known figures from the region.

“It’s like just any other local Saudi conference this year,” said one Western conference participant, “The quality of the speakers has dropped from last year., The star power is gone.”, An executive from a Chinese financial firm said the Khashoggi affair had removed some of the glamor, Some Western executives were keeping lower profiles, he said, adding: “They’re not as willing to come up and realistic hand painted lion cufflinks give you their name card.”, There was uncertainty among attendees if Prince Mohammed would attend at all until he entered the venue’s ornate halls late in the afternoon, In the main auditorium he got a standing ovation, although it was subdued compared with last year’s thundering applause that lasted minutes..

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