Saudi Arabia will not change its oil production policy in the short term despite the death of King Abdullah, Again Capital partner John Kilduff and other experts told CNBC on Friday.
"Things go downhill from here for us with King Abdullah's death. The next generation and others—while they talk a good game and a lot of happy talk toward the U.S. and what they want—what they really want is a very sustainable oil price, a higher one than I think we would like and can benefit from, and will work to do that," he said in a "Squawk Box" interview.
His viewpoint was echoed in part by other experts, who warned that Yemen developments and leadership in the regime are likely to make the situation fluid in the coming months.
Abdullah died Friday (Thursday EST) after effectively ruling the country for two decades. His half-brother, Crown Prince Salman, assumed the throne.
At the November OPEC meeting, Saudi Arabia refused to agree to production cuts. The move accelerated declines in crude prices, which are down about 60 percent from highs in June.
The Saudis want to "break the backs" of U.S. oil producers, and possibly those in Iran and Russia, as well, Kilduff said. The decision to keep oil production steady is largely seen as a bid by Saudi Arabia to protect its market share.
That shifts the responsibility to boost the price of oil through output cuts to other countries, particularly the United States, where oil production has increased about 50 percent between 2008 and 2013.