52,898 labor violations uncovered in Saudi Arabia

Updated 07 August 2017

52,898 labor violations uncovered in Saudi Arabia

RIYADH: Inspectors from the Ministry of Labor and Social Development have detected 52,898 labor violations in private sector companies, the ministry said.
Inspectors have conducted 141,827 visits to private sector firms in different provinces of the Kingdom since the beginning of the current Hijri year up to the end of Shawwal.
Ministry spokesman Khalid Aba Al-Khail stressed that inspectors will continue their tours in cooperation with other government agencies in all areas of the Kingdom in implementation of laws and regulations and to uncover labor violators.
He said the inspection tours come within the ministry’s desire to follow up on the commitment of parties to the decisions and laws regulating the labor market, and to protect business owners who are complying with the laws.
He called on citizens to communicate with the ministry through its call center (19911), or through the ”ma3an-lil-rasd” application on smart devices to report any labor-related irregularities.


Saudi Arabia delays May crude prices until after OPEC+ meeting

Updated 10 min 5 sec ago

Saudi Arabia delays May crude prices until after OPEC+ meeting

  • OPEC and allies are due to meet on Thursday to discuss a possible new global crude supply cut

DUBAI: Saudi Aramco will delay the release of its crude official selling prices (OSP) for May until April 10 to wait for the outcome of a meeting between OPEC and its allies regarding possible output cuts, a senior Saudi source familiar with the matter said on Sunday.
"It is an unprecedented measure that has not been taken by Aramco before. May OSPs will depend on how the OPEC+ meeting concludes. We are doing what we can to make it successful, including taking this extraordinary step to delay the OSPs," the Saudi source said.
Saudi Aramco typically issues its OSPs by the 5th of each month, setting the trend for Iranian, Kuwaiti and Iraqi prices and affecting more than 12 million barrels of oil per day bound for Asia.
OPEC and allies are due to meet on Thursday to discuss a possible new global crude supply cut to end a price war between Saudi Arabia and Russia which has prompted US President Donald Trump to intervene.
The Saudi source said that Riyadh wants to avoid a repeat of the outcome of a March meeting where oil talks collapsed between OPEC and allies "due to Russia's lack of cooperation with the rest of OPEC+ participants".
Coordinated cuts between OPEC members and others led by Russia expired on March 31 having helped support crude prices since they began in January 2017.
The OPEC+ meeting was initially due for Monday, but was postponed to April 9 "to allow for more time to reach out to all producers including OPEC+ and others," the Saudi source said.