News that OPEC may extend output curbs at their meeting this week initially sent benchmark crude prices up. Spencerjakab explains why that may not necessarily be a good thing for Saudi Aramco shareholders. WSJWhatsNow
This week will bring another reminder that Aramco isn’t a normal oil company, and its initial public offering is highly abnormal.
As they prepare for a regional offering of shares in Saudi Arabian Oil Co., as it is formally known, its owners may make a move that defies economic logic. Saudi Arabia will seek to extend output curbs currently set to end in March at this week’s meeting in Vienna of the Organization of the Petroleum Exporting Countries plus key nonmember allies such as Russia, The Wall Street Journal reported.
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