Saudi Arabia’s New King Will Likely Stick With Current Oil Policy

January 23, 2015 2:06 AM

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King Salman, Saudi Arabia’s new ruler, probably will stick to the oil policy of his predecessor, the late King Abdullah, maintaining production levels to preserve market share even at the cost of depressing prices.

A key indicator will be whether Salman, 79, retains the oil minister, Ali al-Naimi, who has driven decision-making since 1995. Naimi, who turns 80 this year, has said he’d like to devote more time to his other job, chairman of the science and technology university named after the late sovereign.

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