Saudi Prince’s Elevation Will Have Far-Reaching Consequences in Energy<br />Here’s how Prince Mohammed’s rise may affect oil prices, global energy production and the sale of shares in Saudi Aramco:<br />Oil prices are around $45 a barrel, continued their slide after the news of Prince Mohammed’s promotion.<br />Prince Mohammed, who was named crown prince on Wednesday, has upended the traditional Saudi energy model in the nearly two<br />and a half years since his father ascended the throne.<br />Analysts say the most likely path is for the Saudis to persist with, or even deepen, production cuts to bolster prices<br />and improve the environment for the Saudi Aramco I. P.O.<br />By STANLEY REEDJUNE 21, 2017<br />As the new heir apparent to the throne of Saudi Arabia, Prince Mohammed bin Salman will play an even more influential<br />role in world oil markets at a time when big crude-producing nations are struggling to prop up prices.<br />With the kingdom’s economy suffering from weakened oil markets, Saudi Arabia, with the prince’s backing, has been a leading<br />force behind the effort by the Organization of the Petroleum Exporting Countries to bolster prices by limiting production.
