From Texas Standard:
You can't talk Texas oil without talking about the competition. In that regard, the eyes of Texas are upon Saudi Arabia right now. Over the weekend the Saudis ended the 20-year tenure of oil minister Ali al-Naimi. Al-Naimi is credited as a pillar in the development of the Organization of Petroleum Exporting Countries, or OPEC. Now, energy investors and analysts alike are waiting to see how this change could affect an already tumultuous oil economy.
Matt Smith, director of commodity research at ClipperData, says that timing is the most surprising aspect of al-Naimi's replacement.