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Industry News

Explore the industries creating new opportunities for cooperation across both markets.

Each industry contains news, briefs, research and interviews.

Industry News
Source: Gulf Business

Saudi Arabia Cuts November Oil Prices to Asia to Six-Year Lows

Saudi Aramco has unexpectedly reduced its official selling prices for crude oil delivered to Asia in November to six-year lows. The flagship Arab Light grade was priced at a 5-dollar-per-barrel discount to the Oman and Dubai benchmark average, marking a 3-dollar reduction from October. Asian refining sources indicated the price cuts appear intended to offset elevated freight costs and safeguard export market share.

Industry News
Source: Invezz

Gold Surges Past $4,150 Amid Slower US Jobs and Central Bank Inflows

Spot gold rose 0.4% to $4,158.17 an ounce after weak US employment figures reduced the perceived probability of an October Federal Reserve rate hike. The price recovery was supported by safe-haven buying from Middle East tensions, record global ETF inflows, and a 20-tonne gold purchase by China's central bank in August.

Industry News
Source: reuters.com

High Logistics Costs Keep Brent Above $100 Despite Rising Strait Oil Flows

Middle East crude exports through the Strait of Hormuz climbed to 14.2 million barrels per day in late September, recovering to nearly 80% of pre-war levels, according to Kpler data cited by Reuters. Despite easing crude availability, Brent prices remain above $100 per barrel due to logistical bottlenecks, including record tanker rates and soaring insurance costs.

Industry News
Source: ThinkChina

China AI Expansion Across Global South Points to New Belt and Road Strategy

An analysis published by ThinkChina outlines how Beijing is leveraging multilateral platforms to export its entire domestic artificial intelligence stack across the Global South. By promoting initiatives under the SCO, BRICS, and the new World AI Cooperation Organization, China aims to secure international scale, compute workloads, and revenue.

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