AGP Executive Report

OPEC+ Oil Policy: OPEC+ approved a fourth straight increase in July oil output quotas, adding 188,000 barrels per day despite the Strait of Hormuz still disrupting real exports—Reuters reports Saudi Arabia is among the seven key members raising targets. Regional Energy Pressure: A separate Bloomberg survey says OPEC crude output fell in May to the lowest in 37 years as the Iran war and US blockade kept flows constrained, with Saudi production also down. Saudi in the Mix: The July quota hike was agreed in a virtual meeting that included Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman, with ministers stressing flexibility if market conditions change. Saudi Sports & Culture: Prince Khaled bin Alwaleed outlined a “future worth building” vision at SXSW London, linking city development, AI and public health. Riyadh Spotlight: A guide lists top things to do in Riyadh this week, while Saudi Arabia also highlighted cultural ties through an India–Saudi classical music concert in Riyadh. Humanitarian Note: KSrelief distributed 25,000 hot meals in Gaza as a new aid convoy arrived.

World Cup Prep: Saudi Arabia beat Puerto Rico 3-0 in a friendly after a near-two-hour weather delay, with goals from Sultan Mandash, Abdullah Al Hamdan and Salem Al Dawsari; the win comes ahead of a June 9 clash with Senegal before Saudi’s Group H opener vs Spain, Uruguay and Cape Verde. Energy & Security: Saudi Energy Minister Prince Abdulaziz bin Salman said the Kingdom will remain a reliable energy supplier “under all circumstances,” pointing to resilience amid geopolitical strain. Trade Controls: The Saudi Cabinet moved export bans and restrictions under a single export-control governance committee, standardizing how such decisions are made. Minerals Push: Saudi Arabia is seeking deeper Russia ties in rare earths and critical minerals, with cooperation framed as strengthening global supply chains. Aviation Accessibility: Saudi GACA signed an MoU with the Saudi Sign Language Association to improve services for deaf and hard-of-hearing passengers. Air Connectivity: Saudia and Myanmar Airways agreed a special prorate deal enabling one-itinerary bookings between Saudi cities and Yangon via regional hubs. Business & Diplomacy: SABCCI inaugurated its office in Dhaka to boost Saudi-Bangladesh trade and investment. Sports Business: Red Sea Global released “Red Sea Waves Vol. 2,” a music album meant to spotlight Saudi cultural roots through regenerative tourism branding.

Gulf Security: Saudi Arabia reiterated its full solidarity with Bahrain and Kuwait after Iran launched fresh missile and drone attacks, with Kuwait temporarily closing airspace and diverting 11 flights before reopening it once threats were intercepted. Regional Diplomacy: Saudi, Egypt and Qatar condemned the strikes as dangerous escalation and violations of sovereignty, while Iran also attacked the IAEA over “political pressure” tied to access to nuclear sites. Trade & Economy: GCC listed companies’ Q1 2026 profits hit a record $67.9bn, led by Saudi earnings, as regional markets weigh the impact of the Iran-linked security shock. Saudi Business & Enforcement: ZATCA reported 686 contraband seizures last week, including major drug hauls, as Saudi continues tightening customs oversight. Saudi-Linked Investment: A Saudi investor profile highlights $1.5bn in tech deals facilitated from the Gulf into US markets, underscoring Riyadh’s push into global innovation capital. Sports: Saudi Arabia’s Al-Khaleej opened World Club Handball Championship action, setting up more matches in the Kuwait-hosted tournament.

Foreign Investment Rules: Saudi Arabia’s Ministry of Investment updated 2026 guidelines for non-resident foreign companies to own property, requiring home-country registration, translated and embassy-authenticated documents, a Saudi-appointed representative, and digital identity via missions. Anti-Corruption Protection: Saudi Arabia is rolling out measures to shield whistleblowers, witnesses and victims in corruption cases, aiming to strengthen reporting and legal protection. Gulf Tensions: The US and Iran exchanged fresh strikes across the Gulf despite an April ceasefire, with drones intercepted near the Strait of Hormuz and missile responses reported involving Kuwait and Bahrain. Regional Air Safety: Kuwait reopened its airspace after a precautionary closure tied to Iranian missile and drone attacks, with flights diverted to Riyadh and Dammam before normal operations resumed. Culture & Language Ties: Saudi Arabia and Malaysia’s translators signed an MoU at KLIBF 2026 to boost translation, publishing and cultural exchange. Sports (Saudi on the pitch): Saudi beat Puerto Rico 3-0 in a weather-hit friendly, their first win under coach Georgios Donis ahead of the World Cup. Heritage Find: Archaeologists at Diriyah uncovered a jar packed with 100+ Abbasid-era gold, silver and gemstone jewellery.

Legal Reform: Saudi Arabia has launched a new program to protect whistleblowers, witnesses, experts and victims in criminal and corruption cases, with courts able to hear testimony privately and, in some situations, keep identities out of rulings. Nuclear Safety: Qatar reiterated its condemnation of the attack on the UAE’s Barakah Nuclear Power Plant at an IAEA emergency session, warning of serious risks to nuclear safety across the region; the IAEA also praised the UAE’s response. Iran Nuclear Claims: Iran’s semi-official media rejected a report that Tehran agreed to transfer enriched uranium to a third country, saying nuclear issues are not on the current agenda. Regional Diplomacy: Saudi Crown Prince Mohammed bin Salman spoke by phone with Lebanon’s President Joseph Aoun, discussing regional developments and security stability efforts. World Cup Focus: Saudi Arabia’s World Cup build-up continues, including coverage of the tournament format and Saudi squad context as the 2026 finals approach. Sports Coaching: Former Saudi national team assistant Yaya Touré has reportedly agreed to become head coach of Slovan Bratislava, marking his first major senior role.

Saudi Security & Justice: A 21-year-old Saudi man was arrested in the UK after a crossbow attack at the University of Surrey left a campus safety staff member in serious condition, with police saying they are not looking for anyone else. Saudi Economy & Energy: Saudi energy minister reiterated the kingdom will remain a reliable energy supplier under all circumstances, while Aramco awarded McDermott a long-term project management consultancy deal for major energy and downstream work across Saudi Arabia. Saudi Business & Investment: Saudi-Hong Kong ties are set to deepen in finance, new energy, AI and infrastructure as the Saudi-Hong Kong Business Council pushes Vision 2030 alignment. Saudi Real Estate: ROSHN Group signed a new partnership with Tatweer to design, build and supervise a public educational facility in East Riyadh’s WAREFA community for up to 500 students. Saudi Events Growth: Forecasts project Saudi Arabia’s events market will jump from $6.1bn (2021) to $17.6bn by 2031, driven by sports, concerts and sponsorship spending. Regional Energy Shock: A new report warns methanol prices are likely to stay above pre-war levels in 2026 as Gulf supply and Hormuz-linked logistics remain vulnerable. Hajj Update: Nigeria’s NAHCON confirmed the safe return of 1,905 Nigerian pilgrims and officials from Saudi Arabia after the 2026 Hajj.

Saudi-Russia Energy Diplomacy: Saudi Energy Minister Prince Abdulaziz bin Salman met Russia’s Alexander Novak at the St. Petersburg International Economic Forum, urging stability in global energy markets amid OPEC+ disruption and war-driven uncertainty. Aviation Milestone for Riyadh Air: Riyadh Air received its first two new-build Boeing 787-9 Dreamliners after months of Boeing delays, a key step ahead of the airline’s public route launch. SpaceX IPO Buzz Hits Saudi Markets: Kingdom Holding shares slid sharply after disclosing its SpaceX stake value, as investors track the record $75bn IPO priced at $135 per share. Regional Travel Warning: The U.S. issued a Level 3 “Reconsider Travel” alert for Saudi and other Gulf states, citing fast-changing security risks tied to Iran-related tensions. Local Incident in the UK: Surrey Police arrested a 21-year-old Saudi national on suspicion of attempted murder after a crossbow shooting at the University of Surrey campus left a man in serious condition. World Cup Focus: ESPN previewed the expanded 48-team 2026 World Cup, including the U.S. roster and Group D opponents (Turkey, Australia, Paraguay).

Aramco Dealmaking: McDermott has been selected by Saudi Aramco for a multi-year project management consultancy long-term agreement, partnering with local firm SLFE to deliver engineering and front-end work for major energy, downstream, petrochemical and low-carbon projects. Power Expansion: Korea Electric Power Corp (KEPCO) won the second phase of Aramco’s Jafurah cogeneration project, signing power and steam sales deals and a construction contract via Doosan Enerbility, with output set to run for 17 years after a June 2029 completion. Regional Diplomacy: Saudi Arabia’s foreign minister held talks with Jordan’s FM and received a message from South Korea’s counterpart, as Gulf states push for de-escalation amid wider Middle East tensions. Hajj Operations: First groups of returning pilgrims continue to arrive home as Saudi’s post-Hajj phase moves forward following a 1447 AH season described as epidemic-free. Business & Markets: Saudi-listed Kingdom Holding said it holds a stake in SpaceX valued at SAR 16.76bn, as SpaceX targets a record $75bn IPO at $135 per share. Sports (World Cup): Saudi Arabia’s World Cup preparations continue, with attention on heat risks across host cities and match scheduling.

Gulf Security: Iran-linked missile and drone attacks hit Kuwait and Bahrain overnight, with Kuwait reporting one death and 63 injuries after strikes on Kuwait International Airport; Kuwait expelled two Iranian diplomats and summoned Iran’s chargé d’affaires as GCC states condemned the escalation. Saudi Economy Watch: The IMF said Saudi Arabia’s economy is resilient despite the Middle East war, citing rerouted oil flows via the East-West pipeline and Red Sea ports, while warning momentum has been disrupted and growth could slow. World Cup Build-Up: Spain coach Luis de la Fuente expects Lamine Yamal to be fit for Spain’s World Cup opener after he sat out a warmup, while FIFA data shows Saudi Arabia’s squad is heavily home-based with only one overseas player. Business & Markets: SpaceX filed for a record $75bn IPO at $135 a share, valuing it at about $1.77tn and potentially making Elon Musk a first-time trillionaire; separately, the U.S. proposed new Section 301 forced-labor tariffs that include Saudi Arabia among 60 countries.

Energy & Markets: Saudi Aramco warns oil refining has been underinvested, saying about 3 million bpd of capacity was shut between 2020 and 2023—leaving the world more exposed as Middle East supply is disrupted by the Iran war and Strait of Hormuz risks. Regional Security: Gulf markets slipped in early trade as Iran-US talks stalled and Iran-linked missile/drone attacks hit or threatened Bahrain and Kuwait, adding fresh jitters for investors. Saudi Economy & Finance: SAB Invest and Retal launched a CMA-regulated SAR 1.9bn ($502m) real estate fund in Riyadh, backing the Retal Heights project with institutional-focused structure. Makkah Development: A Umm Al Qura-led consortium won letters of award worth about SAR 6bn ($1.6bn) to develop two adjacent Hindawiya sites near Masar Destination via a new real estate investment fund. World Cup 2026 (Saudi angle): FIFA confirmed final squads for the expanded tournament—1,248 players from 48 nations—while England’s World Cup squad headlines include big selection calls ahead of the summer. Sports & Culture: Joshua confirmed his boxing return in Jeddah on July 25, and a Saudi-linked Hajj sermon translation effort in Yoruba highlighted Saudi Arabia’s role in global pilgrimage services.

Saudi Women in Industry: Elsewedy Electric says Saudi female staff now make up about 6.5% of its workforce in the Kingdom, as it pushes workplace inclusion aligned with Vision 2030. Gulf Connectivity: Kuwait’s Municipal Council approved the first phase and right-of-way for the Kuwait–Saudi rail link, starting from Al-Shadadiya and extending 85.8 km to boost GCC trade and logistics. Saudi Health Tech: Saudi Arabia is rolling out a value-based health model using AI and medical robotics, highlighting Seha Virtual Hospital’s network of 242 hospitals and hundreds of thousands of beneficiaries. Pilgrim Emergency Care: The Saudi Red Crescent is running round-the-clock ambulance and rapid-response services in Madinah around the Prophet’s Mosque, using the unified emergency number and mobile reporting. Makkah Development: Rikaz’ consortium won a major contract for the East Hindawiyah mixed-use project near Al Masjid Al Haram, a SAR 2bn development covering 235,000 sq m. Regional Diplomacy: Saudi Arabia joined other Muslim states in condemning extremist Israeli settler incursions into Al-Aqsa and the raising of Israeli flags inside the compound. World Cup Build-Up: Saudi Arabia began the final phase of its 2026 World Cup preparations in Austin, Texas, with training under head coach Georgios Donis.

Makkah Redevelopment Deals: Saudi-listed Ladun Investment and a consortium led by First Avenue won major informal-settlement redevelopment concessions in Makkah, including Khalidiyah (target sales value over SAR 6bn) and East Hindawiyah (about SAR 2bn cost, mixed-use plans near the Grand Mosque). Hajj & Pilgrims Logistics: Nigeria’s NAHCON says transportation of Nigerian pilgrims from Saudi Arabia starts Wednesday, with Max Air on June 3 and Flynas/Air Peace on June 4, urging strict baggage and documentation compliance. Energy & Industry: Emerson will co-develop next-generation corrosion management solutions with Saudi Aramco, using ultrasonic online monitoring and real-time data. Sports—Saudi Spotlight: Anthony Joshua confirms his return fight on July 25 in Jeddah against Kristian Prenga. Environment: Saudi Arabia recorded the first onager birth in over 100 years at the Prince Mohammed bin Salman Royal Reserve, a step in reintroduction efforts. Regional Security: GCC condemns “Iranian attacks” on Kuwait as a dangerous escalation.

Saudi Aviation: Saudia says it will take delivery of 12 new aircraft by the end of 2026, expanding its fleet to 161 as it ramps up capacity for Vision 2030 tourism goals. Makkah Development: First Avenue consortium wins a key $533m (SAR 2bn) contract for the East Hindawiyah District Project in Makkah, a mixed-use plan near the Grand Mosque. Hajj Tech & Health: Saudi authorities highlight continued use of AI systems to manage Hajj crowds and stress that the 2026 season ran without epidemic outbreaks, with WHO praising health standards. Regional Security & Oil: Reports say Iran’s strikes damaged at least 20 U.S. military sites across eight countries, while oil prices swing on renewed Middle East tensions and Hormuz fears. Sports—Saudi on the map: Anthony Joshua’s July 25 warm-up vs Kristian Prenga is moved to Jeddah, and Saudi Arabia is listed in Group H for the 2026 World Cup. Football Transfers: Al-Ettifaq confirms Georginio Wijnaldum’s contract is mutually terminated, ending his two-year spell in Saudi Pro League.

Hajj Tech & Crowd Control: Saudi Arabia is deploying KACST’s Roya AI to manage Mecca Hajj crowds in real time, as the pilgrimage wraps up with the Health Ministry saying the season concluded free of epidemics. Hajj Returns & Safety: 11,613 Bangladeshi pilgrims have returned home, with 41 total deaths reported for the group during Hajj; Saudi also reported 1.7M+ pilgrims completed the rites. Urban Heat Plan: Saudi Arabia is preparing a major Riyadh cooling project to cut road and building surface temperatures by up to 15°C. Markets & Geopolitics: Gulf stocks eased after US-Iran strikes, while Saudi’s TASI edged down as investors weighed Strait of Hormuz disruption risks. Business & IPOs: Masqa Investment (Nomu) set its IPO subscription for June 17–24, targeting expansion after strong profit growth. Makkah Real Estate: Umm Al Qura-led consortium won about $1.6bn in contracts for new Makkah development sites. Regional Diplomacy: Saudi reiterated “No Palestinian State, No Normalization” on ties with Israel.

Umrah Season Kickoff: Saudi Arabia has started issuing Umrah visas for the 1448 AH season, with pilgrims using the Nusuk platform; visas run until March 9, 2027, and arrivals/departures are scheduled through March 23 and April 7, 2027. Hajj Feedback Push: Saudi Hajj and Umrah Minister Dr. Tawfiq Al-Rabiah urged pilgrims to share suggestions after this year’s Hajj to improve future services, stressing that firsthand input will shape upgrades. Regional Diplomacy: Saudi Crown Prince Mohammed bin Salman spoke by phone with French President Emmanuel Macron on boosting regional security and maritime safety, as Macron also called for urgent U.S.-Iran talks amid Lebanon escalation. Trade and Economy: Saudi wholesale and retail trade operating revenue rose 7.3% in Q1 2026 year-on-year, with retail and wholesale segments also showing gains. Maritime Presence: Saudi Arabia raised its flag on two vessels at Ras Tanura and Jeddah Islamic ports, highlighting growth in the national maritime fleet. Sports & Fans: Saudi Arabia is offering free World Cup 2026 tickets to fans in the U.S., aiming to boost attendance amid fears of empty stadiums.

Hajj Wrap-Up: Saudi Arabia says Hajj 1447 AH ended successfully with no epidemic outbreaks, citing 24/7 health surveillance and readiness despite global Ebola and hantavirus concerns. Municipal Operations: Makkah’s Holy Makkah Municipality reports removing over 250,000 tonnes of waste since Dhul Qada 15 and clearing more than 16,000 tonnes at holy sites, alongside 38,000+ inspection visits and 5,000+ food samples—no food poisoning cases recorded. Final Rituals: Pilgrims completed Farewell Tawaf at the Grand Mosque in Makkah, with authorities highlighting smooth crowd management and mapped routes. Security Update: The Interior Ministry’s Supreme Hajj Committee says the season remained stable with no incidents disrupting Hajj safety. Pilgrim Services: The ministry began distributing Quran copies in 80+ languages at Jeddah departure halls, with 1.9 million copies allocated. Regional Focus: Saudi Arabia also announced deportations of 7,466 illegal residents in a week, alongside arrests for residency, border and labor violations. Culture & Diplomacy: Saudi Arabia seeks to boost Malay-Arabic literary translations as it hosts Malaysia’s KLIBF as guest of honor.