Saudi Arabia's Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud has appointed Prince Abdulaziz bin Salman, as energy minister on Sunday, replacing Khalid al-Falih.
Prince Abdulaziz, a longstanding member of the Saudi delegation to the Organisation of the Petroleum Exporting Countries (OPEC) with decades of experience in the oil sector.
He helped negotiate the current agreement between OPEC and non-OPEC countries, a group known as OPEC+, to cut global crude supply to support prices and balance the market.
"Saudi oil policy will be enhanced by the appointment of Prince Abdulaziz, through strengthening cooperation among OPEC and with non-OPEC," a Saudi official told Reuters.