On Friday evening, the Prime Minister of Lebanon, Saad Hariri (who is a dual Lebanese-Saudi citizen) fled to Saudi Arabia and from the Kingdom announced he was resigning his position. Houthi forces in Yemen have fired such missiles at targets in Saudi Arabia before, but never with a target so close to the capital city. Saudi Arabia believes that Iran has been providing these missiles to the Houthi forces in Yemen. The prince had recently been appointed by the Crown Prince and was not seen as very influential, but outside of Saudi Arabia the tragic accident has raised more questions. There is no indication that the events in Saudi Arabia will change Saudi Arabia’s oil policy at this time, which is currently set on an extension of the OPEC production deal.

Source: Forbes November 06, 2017 15:33 UTC