Dubai: Saudi Arabia’s Supreme Economic Council has approved a restructuring of state oil company Saudi Aramco that includes separating it from the oil ministry, Al Arabiya television channel reported on Friday, citing sources.

There are no indications that the move will lead to changes in the fundamental way the world’s top crude exporter makes its oil decisions. “Saudi Supreme Economic Council agrees on Deputy Crown Prince Mohammad bin Salman’s vision of restructuring oil-giant Aramco,” Al Arabiya reported on its Twitter account.

“Restructuring of Saudi Aramco includes separation from petroleum ministry,” the channel said.

The Supreme Economic Council is a new body that was formed by King Salman earlier this year to replace the Supreme Petroleum Council, which used to help set the kingdom’s oil policy. The new council is headed by the king’s son Prince Mohammad, a move seen by analysts as laying the ground for a generational shift in how Riyadh develops its energy and economic strategies.

Aramco officials could not be immediately reached for comment.

The main tenets of Saudi oil policy, including maintaining the ability to stabilise markets via an expensive spare-capacity cushion and a reluctance to interfere in the market for political reasons, are set by the top members of the ruling Al Saud family.

It was on Wednesday that King Salman appointed Saudi Aramco’s chief executive as chairman of the state oil firm and health minister on Wednesday, in a reshuffle that is unlikely to change oil policy in the world’s top crude exporter.

A question remains, however, over who will replace Khalid Al Falih in the key CEO role at the national oil giant and whether his appointment as health minister means he is now out of the running to ultimately become oil minister.

“I don’t think there’s been any disagreement about the idea of keeping up production, maintaining market share, refusing to be a swing producer,” Clement M. Henry, professor at Middle East Institute, National University of Singapore, said.

“There will be no change in [Saudi] oil policy at all. The policy is not subject to change at every cabinet reshuffle,” said Mohammad Al Sabban, a former senior adviser to Saudi oil Minister Ali Al Naimi.

Falih’s appointment as health minister was announced in a series of royal decrees, which made no mention of his position at Saudi Aramco.