As we know, on January 23^rd 2015, His Highness King Abdullah bin Abdulaziz Al Saud died, ending his nearly ten year reign on Saudi Arabia’s throne and passing the mantle onto Crown Prince Salman bin Abdulaziz Al Saud, his younger brother. King Abdullah was ninety years old.

                         The Saudi Arabian monarchy has long been known for its careful maneuverings in world politics, its abundance of oil and domination of the world oil market, and for its highly criticized human rights records. However, hope for the economic, social and political future of Saudi Arabia remains high as Crown Prince Salman takes on his new responsibilities as king of Saudi Arabia.

                         The world waited as news of King Abdullah’s passing broke and oil prices almost immediately increased; not by much, but enough to make people pay attention. The unexpected drop and continuation of low oil prices around the world has eased financial pressure on ordinary citizens and governments but has also increased pressure on countries who are unable to match the low prices and production levels Saudi Arabia is currently maintaining.

                         The Saudi Arabian oil minister reiterated his promise that production would remain at its current level as demanded by OPEC. Advisors to King Salman and his nephew, Prince Alwaleed bin Talal, reiterate the monarch’s steadfast approach to the policies of his late brother, stating that no changes to their oil policy will be made.

                         Saudi Arabia’s budget, though, will be strained over the course of the coming years. Oil revenues make up 46% of the country’s GDP and nearly 500 million dollars will be lost per day if oil stays at the price dropped to - $45 a barrel. Saudi Arabia has a sizeable reserve of oil money to tide them through a few leaner years and no one in the government seems to be panicking in any way over this slight dip in prices.

                         The Monarchyhas established Prince Muqrin bin Abdulaziz Al Saud as the next in line to the throne behind King Salman in an attempt to bridge the gap between the older generations of leaders and the grandsons of the late King Abdullah. As King Salman and Prince Muqrin are both in their 70s the changes in leadership in Saudi Arabia in the near future merit close watching. Despite the uncertainty in the government Bin Talal and others insist upon holding fast to their current policies.

                         Bin Talal mentioned a potential expansion of tourist opportunities in the kingdom as well as King Salman’s exploration of new economic opportunities to fill the financial gaps in the country’s budget over the next few years. King Salman is expected to maintain King Abdullah’s commitment to improving human rights and women’s rights in Saudi Arabia as well as a myriad of other reforms.

                         Thus far Bin Talal stated that the transition of power between King Abdullah and King Salman has been smooth, and although the country will be left to figure things out over the coming months they are committed to maintaining their role in the world oil economy.

Sincere condolences to His Highness King Abdullah's Royal Family, Friends - "May God grant him Peace" President Barrack Obama.