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3rd LD Writethru: Saudi King Abdullah dies, succeeded by half-brother

Xinhua, January 23, 2015 Adjust font size:

Saudi King Abdullah has died and his half-brother Salman has become the new ruler, the Royal Court announced Friday. Prince Muqrin was declared new Crown Prince.

"With great sorrow and grief His Highness Salman bin Abdulaziz Al Saud and all members of the family and the nation mourn the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz, who passed away at exactly 1 a.m. this morning (2200 GMT Thursday)," the Saudi Royal court statement said.

Abdullah, born in 1924, was hospitalized in December for pneumonia and had been breathing with aid. On Jan. 2, the Royal Court announced that he was on temporary ventilator for respiratory infection.

Funeral prayers will be held later in the day following afternoon prayers at Imam Turki Bin Abdullah Grand Mosque in the capital Riyadh.

Former Crown Prince Salman bin Abdulaziz Al Saud received the pledge of allegiance as the country's king from members of the royal family. After that, Prince Muqrin bin Abdulaziz received the pledge of allegiance as crown prince.

Both King Salman and Crown Prince Muqrin will receive pledges of allegiance from citizens on Friday evening.

The news of Abdullah's death spurred oil prices in main trading markets around the world, which had lost more than half their value since June 2014, when they were sitting at more than 100 U.S. dollars a barrel.

U.S. benchmark West Texas Intermediate (WTI) for March delivery soared as much as 3.1 percent in New York, while Brent crude for March jumped 1.09 dollars, or 2.25 percent, to 49.61 dollars.

The price spikes come after months of sharp falls in the energy markets as soaring supplies clash with slowing demand.

Saudi Arabia, the main producer in the Organization of the Petroleum Exporting Countries (OPEC), has rejected calls from some OPEC members to slash output, preferring instead to lower prices.

OPEC's decision in late November not to cut production levels despite an oversupply accelerated the fall in oil prices.

Selected as crown prince in 1982, Abdullah had been responsible for the day-to-day running of the country after late King Fahd suffered a stroke in 1995.

He was seen as the main force behind the unprecedented reforms in the past years, including the first communal elections and giving women new professional career choices.

Salman was appointed as crown prince in 2012 after the death of Saudi Arabia's heir apparent and interior minister prince Nayef bin Abdulaziz Al Saud. Salman also served as deputy premier and defense minister. Endi