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No change in policy expected in Saudi Arabia after King Abdullah death — IEA

January 23, 2015, 11:59 UTC+3 DAVOS
Early Friday morning, the price of WTI crude oil rebounded in the US after the reports of Saudi King Abdullah's death
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Riyadh, Saudi Arabia

Riyadh, Saudi Arabia

© AP Photo/Hassan Ammar

DAVOS, January 23. / TASS / Politics of Saudi Arabia in the global oil market will not change after the death of King Abdullah, said the chief economist of the International Energy Agency's Fatih Birol on Friday at the Davos Economic Forum.

"I do not expect a significant change in Saudi Arabian policy in the oil market," said Birol at the DavosLive studio.

Early Friday morning, the price of WTI crude oil rebounded in the US after the reports of Saudi King Abdullah's death.

March futures WTI rose on the stock market in New York, by 2.38% or $1.10, to $47.41 dollars per barrel.

The Saudi monarch died at the age of 91. Crown Prince Salman bin Abdul Aziz Al Saud took the throne.

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