Under Pressure From Trump, Saudis Put Brakes on Oil's Rally - Bloomberg

Under Pressure From Trump, Saudis Put Brakes on Oil's Rally - Bloomberg:

"The world’s largest oil exporter just made quite a policy swerve. Within six weeks, Saudi Arabia has gone from advocating higher prices to trying to stop the rally at $80 a barrel. The U-turn scrambled the outlook for oil markets, hit the share prices of oil majors and shale producers and set up a diplomatic wrangle with other members of the Organization of Petroleum Exporting Countries. What changed? The supply threats posed by the re-imposition of U.S. sanctions on Iran oil exports earlier this month and the quickening collapse of Venezuela’s energy industry are both part of the answer, but they’re secondary to Donald Trump. On April 20, the president took to Twitter to lambaste the cartel’s push for higher prices. "Looks like OPEC is at it again," he tweeted. "Oil prices are artificially Very High!""



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Saudi minister Al-Falih says Aramco IPO likely in 2019 | ZAWYA MENA Edition

Saudi minister Al-Falih says Aramco IPO likely in 2019 | ZAWYA MENA Edition:

"Saudi Arabia is most likely to hold the initial public offering (IPO) of oil giant Aramco in 2019, Energy Minister Khalid Al-Falih said on Friday, confirming a delay from the initial plan to list the company this year.

“The timing I think will depend on the readiness of the market, rather than the readiness of the company or the readiness of Saudi Arabia,” Khalid Al-Falih, who’s also the company’s chairman, said at the St. Petersburg International Economic Forum in Russia on Friday.

“We are ready, the company essentially has ticked all the boxes,” he said. “We’re simply waiting for a market readiness for the IPO.”
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