al-Naimi out… WSJ – Commodity Research Group

May 8, 2016 by Jim Colburn Leave a Comment

Here is the takeaway, from the WSJ:

“Prince Mohammed bin Salman, second-in-line to the throne, has taken a hard line on Saudi oil policy, doubling down on the kingdom’s strategy of maintaining high crude output in the face of collapsed prices. OPEC officials said the appointment of a new minister, Khalid al-Falih, makes it unlikely that Saudi Arabia will advocate changing policy with OPEC, the 13-nation cartel that controls a third of the world’s oil production.”

http://www.wsj.com/articles/saudi-oil-ministers-exit-tightens-princes-grip-1462709963

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