In an interview with Bloomberg (http://www.bloomberg.com/news/features/2016-04-21/the-2-trillion-project-to-get-saudi-arabia-s-economy-off-oil) Prince Mohammed mentions oil prices:
“The likely future king of Saudi Arabia says he doesn’t care if oil prices rise or fall. If they go up, that means more money for nonoil investments, he says. If they go down, Saudi Arabia, as the world’s lowest-cost producer, can expand in the growing Asian market. The deputy crown prince is essentially disavowing decades of Saudi oil doctrine as the leader of OPEC. He scuttled a proposed freeze of oil production on April 17 at a suppliers’ meeting in Qatar because archrival Iran wouldn’t participate. Observers saw it as extremely rare interference by a member of the royal family, which has traditionally given the technocrats at the Petroleum Ministry ample room for maneuver on oil policy. “We don’t care about oil prices—$30 or $70, they are all the same to us,” he says. “This battle is not my battle.””
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