Saudi Arabia will push for an extension to OPEC oil output cuts through mid-2020, an effort to prop up Aramco’s IPO share price, officials say in the Wall Street Journal.
Lead paragraph
Saudi Arabia will push for an extension of oil-production cuts through mid-2020 at a producers’ summit this week in an effort to prop up Saudi Aramco’s initial public offering share price, Persian Gulf officials said. But talks over boosting compliance to agreed cuts””a key condition for the kingdom to deepen its efforts””are being overshadowed by growing unrest in the Middle East.
Market implications
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