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Significance
The king’s son was appointed energy minister on September 8, just one week before Iranian attacks on two key oil facilities at Abqaiq and Khurais, which temporarily halved Saudi oil production. He is the first royal family member in the job -- potentially the most powerful in the country after that of his much younger half-brother, Crown Prince Mohammed bin Salman.
Impacts
The Salman branch of the royal family will further consolidate power to line up the crown prince's future accession.
Aramco’s domestic 1.7-trillion-dollar valuation will be painted as a success, but global financial markets may not necessarily agree.
The oil minister could push resolution of the Saudi-Kuwaiti dispute over the Neutral Zone.
Keywords:
Saudi Arabia,
ME/NAF,
OPEC,
economy,
industry,
politics,
energy,
foreign policy,
foreign trade,
government,
oil,
renewable energy,
equities,
Fossil fuels,
Renewable energy
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2019
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