Saudi Arabia's long-serving oil minister Ali al-Naimi has been sacked as part of a major government overhaul, according to a royal decree announced Saturday by state media.
The absence of diplomatic relations has not prevented unofficial contact between Israeli and Saudi representatives while Saudi Arabia claims to be one of the leaders of the Arab and Muslim world.
Saudi Arabia’s Prince al-Waleed Bin Talal, the grandson of King Abdulazziz, says that new shale oil discoveries “are threats to any oil-producing country in the world.”
A Saudi prince has warned about the negative impact of decreasing oil demands in the global markets due to the rise of US shale energy supplies.