Saudi King Vows Development, Stability Despite Low Oil Price

March 10, 2015 5:27 PM

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Saudi King Salman vowed Tuesday that low oil prices would not halt progress in his country, and promised to defend Arab and Muslim causes around the world in his first major policy speech since assuming the throne.

Salman, 79, said the kingdom would continue oil and gas exploration, despite crude prices being nearly half of what they were last summer. In an acknowledgement of the kingdom's burgeoning young population, he urged businesses to help create jobs, calling it a national duty.

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