King Abdullah’s Death Unlikely To Change Saudi Arabia’s Oil Policy, Say Experts

The death of Saudi Arabia’s King Abdullah and the succession to the throne of Crown Prince Salman bin Abdulaziz, has prompted speculation about whether the change in the oil-producing giant’s leadership will herald a change in its oil policy, which has been a significant factor in the rapid plunge of the commodity’s price over the last year.

The price of oil futures jumped between 2 percent to 3 percent on markets around the world in the wake of the monarch’s death — a fairly muted response that reflected market expectations that Saudi Arabia’s leadership transition would be smooth and the new king would remain committed to continuing his predecessor’s policy of refusing to cut production. Read More..

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