New Saudi energy minister urges producers to share burden:
Saudi Arabia’s new energy minister suggested on Monday that oil producers would need to share greater responsibility to balance the market in comments that marked his debut since being named to one of the most important positions in the kingdom the previous day.
Prince Abdulaziz bin Salman’s remarks indicate he will likely continue a similar policy to that of his predecessor, Khalid al-Falih, who led the deal to cut global production among major oil producers. Al-Falih had been in the role since 2016, but saw his portfolio and role diminished in the days leading up to his replacement as energy minister early Sunday.
Prince Abdulaziz was speaking in Abu Dhabi, the United Arab Emirates, at an energy conference ahead of a meeting later this week between OPEC member-states and other major oil producers like Russia to review an agreement to cut production.
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