Hassan bin Youssef Yassin worked closely with Saudi petroleum ministers Abdullah Tariki and Ahmed Zaki Yamani
from 1959 to 1967.
Dr Firaqi has won many awards like Naqoosh Award in 1993, Prime Minister's Literary Award in 1998, National Presidential Iqbal Award (1997-1999), Shaikh Ahmed Zaki Yamani
medallion in 2008 for outstanding services in promoting the cause of 'Iqbaliyat' in the world, and Pride of Performance Award in recognition of his literary achievements in August, 2010.
In the 1980s and 1990s, under successive oil ministers (Sheikh Ahmed Zaki Yamani
, Hisham Nazer and Ali Al Naimi), the kingdom acted as the Opec's swing producer, the de facto central bank of oil, to prevent price spirals and defuse supply shocks.
The clearest precedent for Mr Naimi's strategy of turning on the taps is the policy adopted by Sheikh Ahmed Zaki Yamani
, his famous predecessor, who boosted production in 1985-86 after cutting back over the previous half-decade to support prices.
If you've read "Yamani: The Inside Story" (1988) by Jeffrey Robinson, a biography of Saudi Arabia's legendary oil minister Sheikh Ahmed Zaki Yamani
(1962-1986), you'll learn that one of the points of dissatisfaction the Saudi regime had with the original Aramco was that it was developing the Eastern Province and providing essential services and even schools to the local Shi'as.
A degree at Princeton in the 1960s was followed by years at the Petroleum Ministry, where he was taken under the wing of his father's canny and charismatic Oil Minister Ahmed Zaki Yamani
. His career as a diplomat began traumatically: the new King Khaled named him as FM following the assassination of Prince Saud's father Faisal, who had retained the foreign affairs portfolio after being made king in 1962.
On this date, Sheikh Ahmed Zaki Yamani
, the minister of oil of Saudi Arabia, declared that the monarchy had decided to alter its oil policy radically.
"When spare capacity is quite low, it's generally associated with higher prices," said Leo Drollas, chief economist at the Centre for Global Energy Studies, a consultant in London founded by former Saudi Arabian oil minister Sheikh Ahmed Zaki Yamani
. Still, the relationship with price is "tricky," because the buffer often increases as a result of Opec production cuts, which tighten supplies, Drollas said.