Carnegie’s Carole Nakhle joined CNBC's Sri Jegarajah to discuss Saudi Arabia's recent appointment of a new oil minister and what this could mean for the kingdom's over all petroleum production policy.  Nakhle argued that the previous oil minister Al Naimi's departure came as no surprise as many in the industry expected him to retire. She believes that the change in the leadership of Saudi's oil ministry fits with the country's recently revealed reform program: Saudi Vision 2030. Although new oil minister Falih is new, Nakhle argues that he will maintain Saudi Arabia's current petroleum production policy unless Iran joins other OPEC members in a production freeze.

This broadcast was originally aired on CNBC.