Oil Shocker: Saudi Arabia Fires Powerful Oil Minister al-Naimi In Dramatic Power Reshuffle
by Tyler Durden
ZeroHedge.com
05/07/2016
For oil watchers Doha was not so much about OPEC oil production, but about a huge power move that had just taken place in Saudi Arabia, as a result of which al-Naimi had become irrelevant overnight. The FT confirmed as much:“the episode has left Ali al Naimi, the kingdom’s technocratic oil minister for the past 21 years, looking increasingly sidelined. This is all came to a stunning culmination moments ago, when Al Arabiya reported the shocking, if inevitable news, that Saudi Arabia has fired long-serving oil minister Ali al-Naimi, on Saturday. According to the WSJ, Naimi would be replaced with Khalid al-Falih, chairman of state oil company Aramco.
The Rest…HERE
