Saudi Prince is appointed minister and oil rises

Oil rose on Monday (9) due to market expectations on the permanence of Saudi Arabia's support to the production cuts of the OPEP (Organization of Petroleum Exporting Countries) and other producers to sustain the price of fuel Before the appointment of the new energy Minister of the country, Prince Abdulaziz bin Salman.

The Brent rose 61 cents (1%), moving to US $62.15 per barrel, while the WTI increased 65 cents (1.2%), the US $57.17 per barrel.

Abdulaziz Bin Salman is a longtime member of the Saudi delegation of OPEC, and was appointed Minister of Energy of Saudi Arabia this Sunday (8), instead of Khalid al-Falih. Salman is the son of the king of the Arab country. It's the first time the ministry has appointed a member of the Royal family.

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