RIYADH, Saudi Arabia, May 8 (UPI) -- Saudi leadership issued a royal decree dismissing the country's veteran oil minister, Ali al-Naimi.
Serving since 1995, al-Naimi's management of the world's largest oil market was respected by many economists and power players in the global oil industry. Some referred to him as the Alan Greenspan of the oil market, unafraid to slow or ramp up oil production when he believed it necessary to maintain a healthy oil commodities market.