Bloomberg.com: By Anthony Dipaola - Updated on
Saudi Arabia’s King Salman Bin Abdulaziz named his son Prince Abdulaziz as the country’s energy minister, replacing Khalid Al-Falih, who led three years of active OPEC diplomacy to forge a global alliance with producers such as Russia to limit production in order to prop up prices. Will this change the policy, or will it affect Saudi Aramco’s plan for an initial public offering?
Who is the new minister in charge?
Prince Abdulaziz served as deputy petroleum minister for a dozen years and most recently as minister of state for energy since 2017. He is an older half-brother of the influential Crown Prince Mohammed bin Salman, though the pair aren’t believed to be close and are quite far apart in age. Prince Abdulaziz’s years in the ministry prepare him for the top role.