A fresh prince of OPEC brings a change in Saudi oil diplomacy

S&P Global Platts | Sep 13, 2019 at 10:18 AM
  • OPEC has a new sheriff in town, Saudi energy minister Prince Abdulaziz bin Salman.
  • Several members had grown resentful of the Saudi-Russian axis, feeling squeezed out from the decision making, particularly when Falih and Novak would declare their policy alignment days or even weeks before the bloc would meet.
  • In naming a new energy minister, Saudi Arabia is hoping that a different diplomatic tack will overcome these odds and get oil prices back to where they need them.