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Throughout his trip to Malaysia, Indonesia, China and Japan, the Saudi king will try to clinch investment deals and look for opportunities that will not only facilitate the Asian economies' continued growth but also help Riyadh implement crucial reform measures back home.
Oil is the most geopolitically important commodity, and the ongoing structural shift in oil markets has produced clear-cut winners and losers. For many countries, the past 18 months have been a period of slow attrition. And with no end in sight for low oil prices, their problems are going to only multiply.
Iraqi Oil Minister Abdul Kareem Luaibi said Aug. 23 that ExxonMobil will sell more than half of its 60 percent interest in the West Qurna-1 oil field project to China's PetroChina and Indonesia's Pertamina in the coming weeks, Reuters reported.