Quote of the Week: Prince Plans to Wean Saudi from Oil by 2020

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  • Saudi Arabia is ready for a world without oil. At least that’s the goal of Deputy Crown Prince Mohammed bin Salman, the 31-year-old son of King Salman bin Abdulaziz.

  • The government of the de facto OPEC leader agreed to sweeping economic reforms, spearheaded by the prince, to wean the oil exporter off crude revenues by 2020.

  • Part of “Vision 2030” includes selling a share of the Kingdom’s crown jewel, Saudi Aramco, estimated to be worth more than $2 trillion.

 

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Source: Bloomberg