- Preparations have stalled in the IPO of Saudi Aramco after more than two years of preparation, leaving government officials and people close to the process doubting that it will go forward at all, WSJ reports.
- "Everyone is almost certain it is not going to happen," an unnamed Aramco senior executive tells WSJ, referring to officials and people close to the process who say the company and the country are not ready for an IPO that could raise $100B but also bring unprecedented scrutiny to the kingdom’s crown jewel.
- Saudi officials have been careful to avoid publicly acknowledging how badly the IPO process is going to avoid damaging relationships with banks and other advisors, according to the report.
- ETFs: USO, OIL, UWT, UCO, DWT, SCO, BNO, DBO, DTO, USL, DNO, OLO, KSA, SZO, OLEM, WTIU, OILK, OILX, WTID, USOI, USOU, USOD, UBRT, DBRT, OILD, OILU, USAI
- Now read: EIA 914 - U.S. Monthly Oil Production Disappoints To The Downside
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