Globe with a changing of the guard in saudi arabia. The man who for decades has been in charge of the largest proven crude reserves in the world has been replaced. The oil minister of saudi arabia, ali al naimi, the de facto leader of opec and when he spoke, others followed. Now theres a new man in that role and he could usher in longterm change for the sector thats been the touch point for the market. Hadley gamble reports from riyadh. Reporter after 23 years on the job, veteran oil minister ali al naimi thanked colleagues for their support on sunday, moving into a new position as adviser to the royal court and making way for a new generation of saudi leaders. Known as the super team, 24 ministers passed revamping the saudi state, including a new minister of oil. While the new appointment doesnt seem to signal a change in government policy, the reshuffle is in line with moves by the deputy crown prince to consolidate power behind the royal court. All ahead of the lifting of 5 of saudi
But we begin halfway around the globe with a changing of the guard in saudi arabia. The man who for decades has been in charge of the largest proven crude reserves in the world has been replaced. The oil minister of saudi arabia, ali al naimi, the de facto leader of opec and when he spoke, others followed. Now theres a new man in that role and he could usher in longterm change for the sector thats been the touch point for the market. Hadley gamble reports from riyadh. Reporter after 23 years on the job, veteran oil minister ali al naimi thanked colleagues for their support on sunday, moving into a new position as adviser to the royal court and making way for a new generation of saudi leaders. Known as the super team, 24 ministers passed revamping the saudi state, including a new minister of oil. While the new appointment doesnt seem to signal a change in government policy, the reshuffle is in line with moves by the deputy crown prince to consolidate power behind the royal court. All ah
But we begin halfway around the globe with a changing of the guard in saudi arabia. The man who for decades has been in charge of the largest proven crude reserves in the world has been replaced. The oil minister of saudi arabia, ali al naimi, the de facto leader of opec and when he spoke, others followed. Now theres a new man in that role and he could usher in longterm change for the sector thats been the touch point for the market. Hadley gamble reports from riyadh. Reporter after 23 years on the job, veteran oil minister ali al naimi thanked colleagues for their support on sunday, moving into a new position as adviser to the royal court and making way for a new generation of saudi leaders. Known as the super team, 24 ministers passed revamping the saudi state, including a new minister of oil. While the new appointment doesnt seem to signal a change in government policy, the reshuffle is in line with moves by the deputy crown prince to consolidate power behind the royal court. All ah
Acres and continues to rage. The cooler temperatures and light rain have officials feeling more optimistic they may get a handle on the devastation in the oil stands region. More than 80,000 people have been evacuated in Fort Mcmurray. Officials say theres no timeline to return residents to the city. Its a pretty horrible devastation thats taken place there. Homes have been lost. But again, people evacuated and are out of the way. Oil prices are reacting as the wildfire has knocked out a Million Barrels as a result of the fire. Bp and oil firms warn they cannot deliver on certain contracts. Wti is up over a dollar gaining 2. 25 . And more big news over the weekend. Saudi arabia replacing longtime oil minister ali alnaimi with Khalid Alfalih, chairman of aramco. They are planning a threeway listing in london, hong kong and new york. The company is valued at more than 2 trillion. John kilduff is here with us. We have gotten so used to this guy, i thought it was an aappointment for life.