with one of his sons, Prince Abdulaziz bin Salman.
Croft, the managing director and global head of commodity strategy RBC Capital Markets, told CNBC that the appointment was "incredibly significant" for the oil market. "A lot of people in this market who have covered energy for years know Prince Abdulaziz very well. He is the ultimate technocrat, he has spent more than three decades in the ministry, working on energy issues," Croft said.
Prince Abdulaziz is a long-standing member of the Saudi delegation to OPEC, a group of oil producing nations ostensibly led by Saudi Arabia. He is not expected to change Saudi Arabia's approach to oil policy or OPEC, including the current agreement between OPEC and non-OPEC producers, including Russia, to curb supply in order to support prices and balance oil markets.
"Will they continue to want to work with Russia? What do you do with countries whose compliance has be challenged Nigeria and Iraq. He has a really important challenge today to come out and reassure the market that Saudi Arabia remains committed to this," she said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Saudi Arabia Names New Energy MinisterSaudi Arabia has relieved its energy minister Khalid al-Falih from his post, less than a week after he was removed as chairman of its state-owned oil giant. Mr. Falih was replaced with Prince Abdulaziz bin Salman. happening there too, we see. WorldwidePhenomenonOfDisinformation Great....now I can sleep tonight. Wouldn't this be the occasion for you, TWSJ, asking when the Saudi King will finally replace the murderer Crown Prince ?!
Source: WSJ - 🏆 98. / 63 Read more »
Saudi Arabia, UAE urge Yemen government and separatists to halt fightingA joint statement by the two Gulf states called on the UAE-backed separatists and the Saudi-backed government to prepare for 'constructive dialogue' to end the crisis between the two nominal allies.
Source: trtworld - 🏆 101. / 63 Read more »
Saudi Arabia launches military industrial licensing programSaudi Arabia said on Sunday it had begun accepting license applications for firm... Remember how they did 9/11? I know for certain that there are many much quicker and easier ways to get down from the roof of a vehicle. Will there be a 'liberation' unit?
Source: Reuters - 🏆 2. / 97 Read more »
Saudi Arabia, UAE urge Yemen government and separatists to halt fightingSaudi Arabia and the United Arab Emirates called on Yemen's separatists and... reuters doing pr for the house of saud's dirty war again? They must be losing. Yes, it’s bad for its IPO.
Source: Reuters - 🏆 2. / 97 Read more »
Oil rises as Saudi Arabia signals OPEC cuts to continue under new energy ministerOil rose on Monday after a Saudi official said there would be no change in Saudi... We don't care....Trump has made us the biggest oil producer on the planet. We can now tell the rest of the world to f**k off and d*e. Our resources are endless like God wanted baby. EXCUSE ME ?!?!? Yay
Source: Reuters - 🏆 2. / 97 Read more »
JPMorgan is close to winning a lead role in history's biggest IPO: Saudi AramcoJ.P. Morgan won the lead advisory role for the initial public offering of Saudi Aramco, the world's most profitable corporation. MbS killed a US resident and journalist and smiles about it. He will screw JP Morgan and not even give them a reach around. He will shop his IPO in England and Honk Kong and China & maybe even the Dax until everyone is unhappy with each other. Saudi Aramco IPO may not happen. Fossil fuel days are over 👎 beware investors 🤔
Source: CNBC - 🏆 12. / 72 Read more »