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Responding to the change in the Saudi Arabian Energy Minister over the weekend, the Omani Oil Minister is quoted by Reuters, as saying that the Saudi move will not change the OPEC+ policy on oil production.

He further said that it is too early to decide on production cuts for next year.

Prince Abdulaziz bin Salman bin Abdulaziz al-Saud replaced Khalid Al-Falih as the new Saudi Energy Minister.

Both crude benchmarks are trending higher nearly 1% on the status-quo likely to be maintained despite the Saudi change.