Within Days, Saudis Wobble on Timing of Aramco IPO and OPEC Cuts - Bloomberg

Within Days, Saudis Wobble on Timing of Aramco IPO and OPEC Cuts - Bloomberg:

"Saudi Arabia has insisted there’s no connection between plans to sell part of its state oil giant and an OPEC strategy that supports crude prices. But within days, it’s hesitated on the time-frame for both.

On Jan. 21, Saudi Energy Minister Khalid Al-Falih indicated it could be next year before OPEC and its allies can clear a supply glut. This could force the Organization of Petroleum Exporting Countries to extend its production curbs, he told reporters in Oman’s capital Muscat, as global oil markets might not rebalance as anticipated in 2018.

Three days later, at the World Economic Forum in Davos, Al-Falih said oil behemoth Aramco’s initial public offering will take place “when the time is right.” While he hoped that right time will still be this year, it’s a change from previous assurances that one of the most anticipated IPOs will proceed later in 2018.

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