The new king of Saudi Arabia moved quickly on Friday to assure global energy markets that the country would maintain its strategy of pushing other top exporters to maintain a high level of oil production. But a prolonged slump in oil prices, as well as budget pressures at home, will test his resolve.

As the new head of the dominant Middle East oil producer, King Salman immediately emerged as the most powerful figure in the global oil patch. Saudi Arabia is the unchallenged leader of the Organization of the Petroleum Exporting Countries, the group of 12 oil-rich nations that has resisted cutting production, contributing to the recent sharp drop in crude prices.

The death of King Abdullah, announced early Friday, sparked speculation that Saudi Arabia could shift direction and prices initially rose 2 percent. Oil prices eased later, though, as the new king said in a televised address that he would stick with “the correct policies which Saudi Arabia has followed since its establishment.”

For the immediate future, most analysts say the Saudi royal family will resist any sharp changes in policy, especially as it tries to navigate multiple foreign policy challenges, like the chaos in neighboring Yemen.