He is described as a favorite among King Fahd's many children.
King Fahd suffered a stroke in 1995 and has been a mostly absent leader.
King Fahd predicted that oil prices would rise to $26 a barrel by the end of the year.
The radio said King Fahd had agreed with the goal of higher oil prices.
King Fahd, lords his oil over the president, and likes to party.
I had a very good talk today with King Fahd.
King Fahd's government used an economic policy which helped the country to survive with a lower income.
King Fahd often showed agility in dealing with complex issues.
King Fahd was 59 when he came to power.
"It's hard to see that the death of King Fahd would produce much change there."