Saudi Prince’s Elevation Will Have Far-Reaching Consequences in Energy
Here’s how Prince Mohammed’s rise may affect oil prices, global energy production and the sale of shares in Saudi Aramco:
Oil prices are around $45 a barrel, continued their slide after the news of Prince Mohammed’s promotion.
Prince Mohammed, who was named crown prince on Wednesday, has upended the traditional Saudi energy model in the nearly two
and a half years since his father ascended the throne.
Analysts say the most likely path is for the Saudis to persist with, or even deepen, production cuts to bolster prices
and improve the environment for the Saudi Aramco I. P.O.
By STANLEY REEDJUNE 21, 2017
As the new heir apparent to the throne of Saudi Arabia, Prince Mohammed bin Salman will play an even more influential
role in world oil markets at a time when big crude-producing nations are struggling to prop up prices.
With the kingdom’s economy suffering from weakened oil markets, Saudi Arabia, with the prince’s backing, has been a leading
force behind the effort by the Organization of the Petroleum Exporting Countries to bolster prices by limiting production.
