oil minister: Al-Falih was appointed oil minister in May 2016, according to CNN. He was the architect of a pact between the Organization of the Petroleum Exporting Countries OPEC and some other oil producers, including Russia, that was designed to reduce oil supply to boost prices. The world's largest oil exporter replaced energy minister Khalid al-Falih with Prince Abdulaziz bin Salman bin Abdulaziz al-Saud, state media said Sunday. The agreement has lasted for nearly three years but has failed to drive prices back to the 80 a barrel level Saudi Arabia wanted. Prince Abdulaziz is Crown Prince Mohammed bin Salman's half brother and has been a member of Saudi Arabia's delegation to OPEC for many years. I think it is a positive notion to the market that a person like Prince Abdulaziz is taking the oil ministry with all of that history of OPEC that he has, said Suhail Al Mazrouei, minister of energy for the United Arab Emirates.
(news.financializer.com). As
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