Saudi overhaul sparks volatility concerns

LAST week's political tumult in Organisation of Petroleum Exporting County members, which included power plays in Libya and Iran, climaxed on Saturday when Saudi Arabia's long-standing oil minister Ali al-Naimi was sacked in a whole-of-government overhaul that analysts fear will only worsen oil market volatility.

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RBC Capital Markets saw the appointment of al-Naimi's replacement, Khalid al-Falih, as an attempt to strengthen the grip on Saudi oil policy held by deputy crown prince Mohammed Bin Salman.

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