Saudi Arabia: oil change

Saudi Arabia's king, Salman bin Abdulaziz, announced a major cabinet reshuffle in which veteran oil minister, Ali al Naimi, has been replaced by Khalid al Falih, the chairman of Saudi Aramco and formerly its CEO. Mr al Naimi had been in the post of petroleum minister since 1995, and ahead of that CEO of Aramco, and speculation surrounding his replacement was something of a cottage industry among OPEC and oil market watchers. With Mr al Falih now in place the focus will turn to whether there will be any change to Saudi Arabia's oil market policy.

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