"Dark kitchens" and sustainable eating are among the four top F&B trends in Saudi Arabia this year likely to shape the growth of the industry, according to global consultants JLL.

He also said that Saudi Arabia, Kuwait and the UAE are not planning to extend voluntary cuts in oil output into July as they were for June only. The three Gulf states had pledged to cut an extra 1.180 million bpd in June beyond their output commitments.

The kingdom's energy minister was speaking at a press conference as part of the 11th OPEC and non-OPEC ministerial meeting.

Saudi Arabia raised selling prices on Sunday, a day after OPEC and its allies agreed to extend record oil production cuts until the end of July.

The OSP differential for its Arab Light crude headed to Asia was set at plus 20 cents per barrel against the average of the Dubai and Oman benchmarks over July. That is up by $6.10 per barrel from the June price, far above the $2-$5 per barrel increase that traders had expected, according to an S&P Global Platts survey.

Saudi Aramco said in a statement that it raised the July price for its Arab light crude to Asia to plus $0.20 a barrel, up $6.10 from June.

On Monday, oil prices climbed after top producers agreed to extend a deal on record output cuts until July end. Brent crude was up 1.2 percent, at $42.79 per barrel in the morning. However, oil slipped after Saudi Arabia said an extension of output cuts by OPEC+ nations would not include extra voluntary cuts by the three Gulf producers.

(Writing by Seban Scaria, editing by Daniel Luiz)

seban.scaria@refinitiv.com

#Saudi #Oil # Energy # Abdulaziz bin Salman #OPEC

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