King Salman made the statement on Saudi television.
Saudi Arabian authorities announced Friday that the sixth king of the country, Abdullah bin Abdulaziz Saud, died at the age of 90. Salman bin Abdulaziz Saud, the crown prince of Saudi Arabia, was named the new king in the statement.
The 79-year-old Salman, half-brother to the late king, acted as defense minister since 2011. Between 1955 and 2011, Salman served as governor of Riyadh Province.
World leaders have extended their condolences in connection with the death of King Abdullah, including US President Barack Obama, British Prime Minister David Cameron and Indian Prime Minister Narendra Modi. Russian President Vladimir Putin also paid tribute to the late king, calling him a wise and consistent leader.
The market saw a 2.5 percent upsurge in the price of crude oil after the death of the king of Saudi Arabia, the world’s largest oil exporter. The country has refused to cut oil production despite falling prices and did not support the idea of OPEC curbing oil production to reverse the decline.
