{"id":23993,"date":"2015-01-25T17:37:40","date_gmt":"2015-01-25T16:37:40","guid":{"rendered":"http:\/\/www.w-t-w.org\/en\/?p=23993"},"modified":"2015-01-25T17:37:41","modified_gmt":"2015-01-25T16:37:41","slug":"same-old-king-in-saudi-arabia","status":"publish","type":"post","link":"https:\/\/www.w-t-w.org\/en\/same-old-king-in-saudi-arabia\/","title":{"rendered":"Same Old King in Saudi Arabia"},"content":{"rendered":"

Maher Chmaytelli writes: It is expected that K<\/span><\/cite>ing Salman, Saudi Arabia\u2019s new ruler, will continue the policy of maintaining crude output to preserve market share even as prices have plunged.<\/p>\n

Salman, 79, issued a royal decree to retain current ministers, according to the official Saudi Press Agency. Al-Naimi led OPEC\u2019s Nov. 27 decision to maintain its crude production even as shale supplies spurred U.S. output to the highest in three decades. Salman said on Saudi national television that he will maintain the policies of his predecessor.<\/p>\n

With production of 9.5 million barrels a day and exports of 7 million, Saudi Arabia accounts for more than a 10th of global supply and a fifth of crude sold internationally. The country\u2019s refusal to surrender market share to rising U.S. output has contributed to the worst slump in prices since the global credit crisis of 2008.<\/p>\n

Brent crude oil, the global benchmark, rose as much as 2.6 percent to $49.80 a barrel in London on Friday, before paring gains to $49.38 at 10:37 a.m. local time. West Texas Intermediate rallied as much as 3.1 percent.<\/p>\n

The price increase following the death of King Abdullah will be temporary because it won\u2019t alter the nation\u2019s policies and U.S. oil output will continue rising.<\/p>\n

In signs of a smooth succession, Salman was named king and Prince Muqrin, 69, another half-brother, has been chosen as Crown Prince. Salman appointed Prince Mohammed bin Nayef, the country\u2019s Interior Minister, as deputy crown prince and his son Mohammed bin Salman as defense minister, Saudi State Television reported today.<\/p>\n

\"saudi<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Maher Chmaytelli writes: It is expected that King Salman, Saudi Arabia\u2019s new ruler, will continue the policy of maintaining crude output to preserve market share even as prices have plunged. Salman, 79, issued a royal decree to retain current ministers, … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":22,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[13],"tags":[],"class_list":["post-23993","post","type-post","status-publish","format-standard","hentry","category-finance"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t