Analysts warn of turbulence in oil market
Considerable challenges abound, such as an oversupplied market and the policies of Riyadh's new crown prince
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London
AFTER Mohammed bin Salman's appointment as crown prince, energy markets need to brace for an even more assertive Saudi Arabian foreign policy that could threaten regional stability in the heart of the global oil industry.
The 31-year-old has already supported the kingdom's involvement in a war in Yemen and broken diplomatic ties with fellow Opec member Qatar. Both moves were driven by a confrontational stance towards Iran, and MbS, as the prince is known, has already let the intensifying regional rivalry spill into oil policy - last year, he intervened to sink a deal to freeze production because Iran refused to participate.
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