Oil falls below $90 as Trump downplays prospect of escalation with Iran

The global oil market is showing signs of a return to excess supply as demand drops because of high prices, some analysts said, as OPEC oil output rises in October
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The global oil market is showing signs of a return to excess supply as demand drops because of high prices, some analysts said, as OPEC oil output rises in October
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Saudi Energy (SE) reported an 11.5 percent year-on-year increase in revenue to SR87.2 billion during the first nine months of 2026, while net profit rose 4.3 percent to SR12.1 billion, according to the company's latest financial results.
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Active commercial registrations in Saudi Arabia's manufacturing sector grew by 18 percent, while mining and quarrying registrations increased by 13 percent by the end of the third quarter of 2026, according to the Ministry of Commerce.
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