{"id":99351,"date":"2025-08-04T00:00:00","date_gmt":"2025-08-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/08\/04\/another-hike-from-opec\/"},"modified":"2025-08-04T00:00:00","modified_gmt":"2025-08-04T00:00:00","slug":"another-hike-from-opec","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/08\/04\/another-hike-from-opec\/","title":{"rendered":"Another hike from Opec+"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning. <\/strong>Today\u2019s issue is a mixed bag of good and not-so-good news. The banking sector is staying healthy, according to Sama\u2019s latest monthly bulletin, while real estate prices are finally cooling down in 2Q with the residential sector logging very modest increases and Riyadh seeing the lowest y-o-y rate since 2022 started.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The not-so-good news: <\/strong>Tadawul has lagged behind regional and global markets in July, and Sabic posted its third quarterly loss in a row against analyst expectations. Let\u2019s dive in.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>It\u2019s both hot and windy in the Kingdom today, with Riyadh expected to see a high of 44\u00b0C and a low of 31\u00b0C, while Jeddah\u2019s mercury will go as high as 40\u00b0C and as low as 31\u00b0C. Makkah will see a 42\u00b0C high and 32\u00b0C low.<\/p>\n<p class=\"tag-border-left\">HAPPENING TOMORROW-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Aramco is expected to publish its 1H 2025 earnings tomorrow<\/strong>, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/webcast.openbriefing.com\/11873\/\" style=\"\" rel=\"noopener\">website<\/a>. The oil giant is forecasted to post SAR 92.8 bn in net income for the quarter, down from SAR 106.2 bn recorded in the same period last year, according to <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/ar\/article\/articledetail\/id\/1828556\" style=\"\" rel=\"noopener\">Argaam<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- <\/strong>The company posted a 4.6% y-o-y drop in net income to SAR 97.5 bn (USD 26 bn) in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f8f95ee1-3530-42c2-b734-8267500ec43a\" style=\"\" rel=\"noopener\">1Q 2025<\/a>, exceeding analyst estimates by some SAR 3.4 bn amid weaker oil prices caused by global economic uncertainty.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2-<\/strong> <strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.fiba.basketball\/en\/events\/fiba-asiacup-2025-qualifiers\" style=\"\" rel=\"noopener\">Fiba Asia<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.fiba.basketball\/en\/events\/fiba-asiacup-2025-qualifiers\" style=\"\" rel=\"noopener\">Cup 2025<\/a><\/strong><strong> is set to kick off tomorrow and run through Sunday, 17 <\/strong><strong>August in Jeddah.<\/strong> The tournament will bring together 16 national teams from across the Asia-Oceania region to compete for the title of continental champion.The <a target=\"_blank\" href=\"https:\/\/www.fiba.basketball\/en\/events\/fiba-asiacup-2025\/games\/128093-NZL-IRQ\" style=\"\" rel=\"noopener\">opening game<\/a> will see New Zealand compete against Iraq.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">OIL WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt1\"><\/a> Another hike<\/strong><strong>:<\/strong> Opec+ has approved an oil production increase of 547k barrels per day for September, concluding a phase of its supply restoration strategy one year ahead of schedule, according to a <a target=\"_blank\" href=\"https:\/\/www.opec.org\/pr-detail\/572-03-august-2025.html\" style=\"\" rel=\"noopener\">press release<\/a>. The hike completes a gradual reverse of the bloc\u2019s 2.2 mn bpd cut instituted in 2023, bringing Saudi Arabia\u2019s quota to 9.75 mn bbl\/d.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The unwinding <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b0064b8c-03ba-49ae-b942-683f2365bfc2\" style=\"\" rel=\"noopener\">started<\/a><\/strong><strong> back in April<\/strong>, when eight of Opec+\u2019s producers agreed to hike production by 411k barrels a day, citing \u201ccontinuing healthy market fundamentals and the positive market outlook\u201d as the reasoning behind its decision.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A lot to gain: <\/strong>Opec+ will likely <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/4ef9fa18-6aa3-4a21-bf78-50d46b50dcf3\" style=\"\" rel=\"noopener\">benefit<\/a> from its decision to prioritize market share over price stability, despite initial economic strain. Members are hoping to claw back market share ceded to US shale and other competitors, as oil supply growth from non-Opec producers is expected to slow by over 80% through 2027.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More in the bag:<\/strong> The group is still holding onto some 1.65 mn bbl\/d per day from eight member countries, and an additional 2 mn bbl\/d reduction across the entire alliance, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/opec-agrees-principle-another-large-oil-output-hike-sources-say-2025-08-03\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Both measures are scheduled to expire by the close of 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax:<\/strong> Oil prices slipped on the news, with Brent Crude futures falling to USD 69.24. Prices could drop to around USD 60 per barrel by year-end due to a market surplus, Bloomberg reports, citing estimates by JPMorgan and Goldman Sachs. This could force Opec+ to reverse production hikes and resume output cuts to ease price pressure, energy consultancy FGE said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>The cartel meets next on 7 September to discuss its policy for October. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a> <\/strong><strong>New subscription fee guidelines for shared property owners in t<\/strong><strong>he Kingdom: <\/strong>The Real Estate General Authority has set guidelines for owners\u2019 associations in shared properties, <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/economics\/92909\/%D9%87%D9%8A%D8%A6%D8%A9-%D8%A7%D9%84%D8%B9%D9%82%D8%A7%D8%B1-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D9%82%D8%AA%D8%B1%D8%AD-%D8%A7%D8%B4%D8%AA%D8%B1%D8%A7%D9%83%D8%A7-%D8%B3%D9%86%D9%88%D9%8A%D8%A7-%D9%81%D9%8A-%D8%AC%D9%85%D8%B9%D9%8A%D8%A7%D8%AA-%D8%A7%D9%84%D9%85%D9%84%D8%A7%D9%83\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports. The authority introduced an annual fee per unit capped at 7% of market value for units under SAR 300k, and 3% for those above.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The fee will cover management, maintenance, utilities, and salaries<\/strong>. Associations can also receive funding from donations, endowments, special collections, and returns on common facilities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The guideline joins a battery of reforms pushed recently to stimulate the real estate <\/strong><strong>market.<\/strong> The changes <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/268e8967-967e-47b8-b55b-e66f743e2692\/non-saudis-to-buy-saudi-property-%25e2%2580%2594-under-a-few-conditions\" style=\"\" rel=\"noopener\">allowed<\/a> non-Saudis to own property and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e62966e6-8805-4fb4-af55-4385b5f42bd7\/foreign-investors-can-now-buy-shares-of-listed-companies-with-real-estate-assets-in-the-holy-cities\" style=\"\" rel=\"noopener\">foreign investment<\/a> in Makkah- and Madinah-based real estate companies, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/12b30af9-a72f-4e17-a335-a1a77899b104\/riyadh-is-getting-serious-about-real-estate-reform-%25e2%2580%2594-and-it%25e2%2580%2599s-starting-with-the-north\" style=\"\" rel=\"noopener\">lifted development restrictions<\/a> on 81 sq km of land in northern Riyadh, and saw amendments to the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/012d5675-1627-4c3d-85e7-d4e54469b091\/the-kingdom-officially-approves-amendments-to-the%253cmark%253e-white-land%253c%2Fmark%253e-tax-law\" style=\"\" rel=\"noopener\">White Land Tax law<\/a>, in addition to planning the release of 10k-40k affordable residential plots per year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt3\"><\/a> <\/strong><strong>Over <\/strong><strong>54k Sa<\/strong><strong>udi families benefited from the Kingdom\u2019s subsidized housing programs <\/strong><strong>during 1H 2025<\/strong>, the Municipalities and Housing Ministry said in a <a target=\"_blank\" href=\"https:\/\/momah.gov.sa\/ar\/node\/15038\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. More than 48k families settled into their new residences over this period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown: <\/strong>The Subsidized Real Estate Financing program for low-income individuals concluded over 27k financing transactions, exceeding its 1H aim by 63%. Nearly 3.8k families receiving social security benefits were assisted through different developmental housing initiatives. The beneficiary satisfaction rate reached 90%, surpassing the annual target of 80%.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<\/strong><strong>You\u2019re reading EnterpriseAM Saudi<\/strong>, your essential daily roundup of business, economics, and must-read news about Saudi, delivered straight to your inbox. We\u2019re out Sunday through Thursday by 7am Riyadh time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM Saudi is available without charge <\/strong>thanks to the generous support of our friends at Tas\u2019heel and Hassan Allam Properties.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to send us a story idea<\/strong>, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on <a target=\"_blank\" href=\"mailto:climate@enterprisemea.com\" style=\"\" rel=\"noopener\">saudi@enterpriseAM.com<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DID YOU KNOW <\/strong>that we also cover <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\" style=\"\" rel=\"noopener\">Egypt<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">the UAE<\/a>, and the MENA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" style=\"\" rel=\"noopener\">logistics<\/a> industry?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM Saudi delivered every weekday.<strong>***<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a (very) calm morning in the international press<\/strong>, dominated by concerns over Trump\u2019s erratic response to jobs data, and what comes next in the Gaza war.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Defending Trump: <\/strong>National Economic Council Director Kevin Hassett said the president\u2019s firing of Bureau of Labor Statistics commissioner Erika McEntarfer is justified after the BLS made <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2025\/08\/03\/white-house-trump-bls-chief-firing.html\" style=\"\" rel=\"noopener\">\u201cextreme\u201d downward revisions<\/a> to job report data from May and June. Trump \u201cwants his own people there\u201d to make the data \u201cmore transparent and more reliable,\u201d Hasset added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Are revisions uncommon? <\/strong>US job data have been known to <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2025\/08\/03\/white-house-trump-bls-chief-firing.html\" style=\"\" rel=\"noopener\">undergo revisions later<\/a>, as some businesses do not file data before the reporting deadline, making the estimate more precise as time goes by. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OVER IN GAZA- <\/strong>The US and Israel appear to be shifting their approach towards an <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2025\/08\/03\/world\/middleeast\/israel-gaza-hamas-ceasefire.html\" style=\"\" rel=\"noopener\">\u201call or<\/a><a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2025\/08\/03\/world\/middleeast\/israel-gaza-hamas-ceasefire.html\" style=\"\" rel=\"noopener\">nothing\u201d agreement<\/a> to end the war in Gaza, US envoy Steve Witkoff signaled in a meeting with families of Israeli captives on Friday. While Witkoff stopped short on providing more details, the shift could be motivated by mounting international pressure over the humanitarian situation in Gaza and calls for recognizing a Palestinian state.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israel has been trying to secure a partial agreement for months<\/strong>, but Hamas insists on a comprehensive agreement that answers next-day questions, including governance in the enclave and the establishment of a Palestinian state. Arab states \u2014 along with the EU and 17 more countries \u2014 have called on the militant group last week to <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2025\/07\/30\/middleeast\/arab-league-hamas-gaza-israel-intl\" style=\"\" rel=\"noopener\">disarm and relinquish power<\/a> to the Palestinian Authority \u201cin the context of ending the war.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/8\/56.jpg?ssl=1\"\/><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">In the third issue of our <strong>Destination Sahel<\/strong> series, we\u2019re taking a look at how Sahel could become a year-round destination, the architecture underpinning new developments, and the impact of coastal cities on our shores.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Look for Destination Sahel, Issue III, in your inbox this Wednesday, 6 August.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Missed the first two issues? <a target=\"_blank\" href=\"https:\/\/enterprise.news\/destination-sahel\/en\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to read the full series. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>PLUS:  New subscription fee guidelines for shared property owners<\/p>\n","protected":false},"author":1,"featured_media":99352,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2540],"tags":[10,514,9],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-99351","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-enterpriseam-ksa","tag-opec-2","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"202980ff-f187-4284-bce5-cc023d75589a","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2025\/8\/103.jpg","photo_position":"above","homepage_title":"","full_issue_title":"THIS MORNING: Another hike from Opec+","related_issue":[99349],"teaser":"PLUS:  New subscription fee guidelines for shared property owners","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/8\/.7cfc740c-4e3b-425c-a692-4df81c9bd065.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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