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Aramco listing reshapes Saudi Arabia's OPEC oil policy

Saudi authorities aim to list around 5% of Aramco by the end of 2018 on both the Riyadh stock exchange and one or more international markets

Reuters  |  Dubai/London 

Saudi Arabia's plans to float state oil titan Aramco are prompting the country to think the unthinkable. Late last year, Saudi Arabia tried to get fellow oil producers around the world to agree to reduce production. Before an OPEC meeting in Vienna in November, Saudi officials were armed with an unprecedented bargaining chip: if there was no deal, the kingdom would quit the exporter group altogether. The strategy was approved at the highest level of the Saudi government, said sources familiar with the matter. It was not only aimed at ensuring the smooth workings of the ...

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First Published: Thu, September 28 2017. 17:59 IST