Adam Button — Saudi Arabia dumps long-time oil minister in major shakeup

Mohammed bin Salman's consolidation of power in the Saudi Arabian kingdom continued Saturday as long-time Saudi oil minister Ali Al-Naimi was ousted.
He joined Aramco in 1957, rose to CEO in 1983 and was named Minister of Petroleum and Mineral Resources in 1995.….

The second-biggest shock may be the departure of the central bank governor Fahd al-Mubarak. He will be replaced by Ahmed al-Kholifey. Saudi Arabia's currency is pegged to the US dollar and there is increasing speculation they may be forced to abandon it.

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Saudi Arabia dumps long-time oil minister in major shakeup

Adam Button

ht Ryan Harris in the comments