New Saudi Oil Minister Vows to Maintain Crude Output Cuts

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New Saudi Oil Minister Vows to Maintain Crude Output Cuts
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The world’s largest crude exporter has no plans to change its oil production policy

, Saudi Arabia’s newly appointed energy minister said Monday. But the abrupt leadership change from OPEC’s kingpin could complicate the cartel’s task of mopping up a global crude glut as it meets this week, insiders said.

Saudi oil minister Prince Abdulaziz bin Salman said he intends to maintain production curbs as part of an agreement with the Organization of the Petroleum Exporting Countries.

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