Saudi Arabia far from economic crisis, says crown prince

Muhammed bin Salman gave an interview with The Economist this month - here's what Petroleum Economist picked out

Muhammed bin Salman, Saudi Arabia’s youthful deputy crown prince, defence minister and, according to most kingdom-watchers, the power behind the throne, gave a lengthy interview to The Economist on 4 January. Several answers were significant for the oil market and investors. On Saudi oil-market policy The kingdom has pursued a laissez-faire strategy in oil markets since November 2014, when it directed Opec not to stop a price slump. Since then, Saudi output has been high and its sales tactics aggressive, including discounts to customers in Asia and Europe. Oil prices have plummeted in part thanks to this policy, which is designed to recover market share lost in recent years to higher-cost pr