The Venezuelan News: The Saudi Minister of petroleum Ali al - Nuaimi, was dismissed by Royal Decree after nearly 21 years in the world's largest exporter of crude oil portfolio, El-Ikhbariya State television reported Saturday.
Nuaimi, considered as the most influential in the Organization of the petroleum exporting countries (OPEC), was replaced by Jaled al - Faleh, designated in a portfolio that includes energy, industry and mining resources, according to decision of the King Salman.
Nuaimi output occurs after two years in which the Kingdom executed a policy that helped the collapse of international prices, and during which, to avoid losing markets to countries outside of OPEC, it opposed concerted production cuts.
In January, the Financial Times had written that Nuami had stated their interest to leave his post and retire to King Salmán.
Nuaimi, considered as the most influential in the Organization of the petroleum exporting countries (OPEC), was replaced by Jaled al - Faleh, designated in a portfolio that includes energy, industry and mining resources, according to decision of the King Salman.
Nuaimi output occurs after two years in which the Kingdom executed a policy that helped the collapse of international prices, and during which, to avoid losing markets to countries outside of OPEC, it opposed concerted production cuts.
In January, the Financial Times had written that Nuami had stated their interest to leave his post and retire to King Salmán.
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