Saudi Arabia has experienced an unprecedented oil …
Years: 1982 - 1982
Saudi Arabia has experienced an unprecedented oil boom during Khalid's reign.
Khalid, who is known to have a heart condition, is always accompanied by a team of American and European doctors and nurses on twenty-four-hour standby in case of emergency.
At Khalid's death, officially ruled a heart attack, on June 13, 1982, fifty-nine-year-old Crown Prince Fahd, who has long been influential in the administration of affairs and virtual ruler during his brother's reign, succeeds him to the throne under a cloud of suspicion.
Fahd maintains Saudi Arabia's foreign policy of close cooperation with the United State and the provision of financial aid to moderate states, notably Egypt, to counterbalance Soviet influence in the Middle East.
He also increases purchases of sophisticated military equipment from the United States and Britain.
The Saudi government continues its major role in determining OPEC policy on oil production and pricing.
Oil revenues being crucial to Saudi society, the Saudis ultimately achieve complete control of Aramco and, therefore, over their chief economic resource.
Locations
People
Groups
- United States of America (US, USA) (Washington DC)
- Union of Soviet Socialist Republics (USSR), or Soviet Union
- Britain (United Kingdom of Great Britain and Northern Ireland)
- Saudi Arabia, Kingdom of
- Arabian-American Oil Company (Aramco)
- Egypt, Arab Republic of
