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Economic impact of Saudi Arabia's leadership

23 June 2012 Last updated at 11:26 BST

King Abdullah of Saudi Arabia has appointed his half-brother Prince Salman as the new heir to the throne, following the death of Crown Prince Nayef last weekend. He is the second Crown Prince to die in less than a year.

With Saudi being the world's biggest oil exporter and the Gulf's largest economy, the focus is now on 76-year-old Prince Salman.

Just how important is the kingdom's leadership to the region's economic prosperity?

Katy Watson reports.