Saudi king, Salman, to keep oil output high

Saudi Arabia’s new king is expected to continue a policy of keeping oil output steady to drive out rival producers, though the royal succession has focused market attention on the future of the kingdom’s long-serving oil minister.

King Abdullah died early yesterday and his brother Salman became king.

Salman named his half-brother Muqrin as heir, rapidly moving to forestall any succession crisis at a moment when Saudi Arabia faces unprecedented turmoil on its borders.