Oil fell in New York on speculation the death of King Abdullah of Saudi Arabia won’t signal any change in strategy for the world’s largest crude exporter. Salman Bin Abdulaziz Al Saud, who succeeds Abdullah on the throne, said he would maintain his predecessor’s policies. The kingdom will not cut production to boost prices because other producers will fill the gap, Saudi Prince Alwaleed Bin Talal Al Saud said. U.S. crude inventories rose the most since 2001 last week, according to a government report. “There already has been a pretty well established succession plan so it’s not a big deal,” said Kyle Cooper, director of commodities research at IAF Advisors in Houston. “Supply has been very stout and demand’s not been what people had expected. It highlights the bearish sentiment in the market.” Oil has slumped about 36 percent since the Organization of Petroleum Exporting Countries’ Nov. 27 accord […]