London — Oil prices rose on Monday after Saudi Arabia, the world's largest exporter of crude, named oil veteran Prince Abdulaziz bin Salman as its new energy minister, a move seen strengthening an output-cutting deal between Opec and other producers.

Abdulaziz, son of Saudi king Salman and a long-time member of the Saudi delegation to the oil cartel, replaced Khalid al-Falih on Sunday...

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