Saudi crown prince promises Aramco IPO by 2021: report

Saudi crown prince promises Aramco IPO by 2021: report

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Markets/commodities reporter

Saudi Arabia Crown Prince Mohammed bin Salman said his nation’s state-run oil giant Aramco will hold an initial public offering by 2021, according to a report from Bloomberg Friday. The crown price told the news agency in an interview that the “investors will decide the price on the day. I believe it will be above $2 trillion.” Saudi Arabia had reportedly denied that it called off the stalled IPO after speculation in August that it had been cancelled. It was first proposed in 2016. Oil prices on Friday saw mixed trading, with global benchmark December Brent LCOZ8, -0.13% down less than 0.1% at $84.52 a barrel, and November West Texas Intermediate crude CLX8, +0.27% up 0.3% at $74.56 a barrel.

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