Saudi King Salman appointed Saudi Aramco’s chief executive as chairman of the state oil firm and health minister, in a reshuffle that is unlikely to change oil policy in the world’s top crude exporter.
A question mark remains, however, over who will replace Khalid Al Falih in the key CEO role at the national oil giant and whether his appointment as health minister means he is now out of the running to ultimately become oil minister.
“I don’t think there’s been any disagreement about the idea of keeping up production, maintaining market share, refusing to be a swing producer,” Clement M Henry, professor at Middle East Institute, National University of Singapore said.
“There will be no change in (Saudi) oil policy at all. The policy is not subject to change at every cabinet reshuffle,” said Mohammad Al Sabban, a former senior adviser to Saudi oil Minister Ali Al Naimi.
Oil prices dipped as oversupply outweighed any political uncertainty in Saudi Arabia.
Falih’s appointment as health minister was announced in a series of royal decrees, which made no mention of his position at Saudi Aramco. But an Aramco statement described him as “chairman of the Saudi Aramco board of directors and outgoing president and CEO”, confirming an earlier report by Saudi-owned Al Arabiya television.

