Saudi Arabia's new energy minister on Sunday pledged to maintain the kingdom's oil policy, after being named in a major government overhaul.

"Saudi Arabia will maintain its stable petroleum policies," Khalid al-Falih said in a statement a day after King Salman named him to replace longtime former oil minister Ali al-Naimi.

"We remain committed to maintaining our role in international energy markets and strengthening our position as the world's most reliable supplier of energy," Falih added.