Abdulaziz was reportedly admitted to a
hospital in Riyadh on Wednesday for medical
tests, state media reported on Wednesday,
citing a royal court statement. Reuters
report:
King Abdullah, who took power in 2005 after
the death of his brother King Fahd, is
thought to be 91, although official accounts
are unclear. He has undergone surgery in the
past few years related to a herniated disc.
Saudi stocks dipped on the news, which will
also be of wider interest as Saudi Arabia is
the world’s largest oil exporter and the top
U.S. ally in the Gulf region. Global oil prices
did not appear to be immediately affected.
“The Custodian of the Two Holy Mosques,
King Abdullah bin Abdulaziz, may God keep
him, entered today, Wednesday, … the King
Abdulaziz Medical City of the National Guard
in Riyadh to undergo some medical tests,”
the statement said, according to state news
agency SPA.
Saudi Arabia’s stock market, which was
already down more than 1 percent due to
sliding oil prices, droped to 5 percent lower
in the minutes after the news. It later
recovered slightly to be 3 percent lower.
Abdullah named his half-brother, Prince
Salman, 13 years his junior, heir apparent in
June 2012 after the death of Crown Prince
Nayef bin Abdulaziz. Earlier this year he
appointed Prince Muqrin bin Abdulaziz as
deputy crown prince, giving some assurance
on the kingdom’s long-term succession
process.
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