King Salman is expected to broadly continue Abdullah’s policies, analysts say.
Brent crude fell towards $84 a barrel on Tuesday, after top oil exporter Saudi Arabia cut prices to the United States.
Kuwait’s oil minister said on Sunday OPEC was unlikely to cut production to support prices.
South American nation Venezuela tops the list, followed closely by Saudi Arabia.
Combined oil output from Saudi Arabia, Kuwait and the UAE rose sharply in August.
The Kingdom reportedly reduced oil output by 300,000 barrels per day from June.