Aramco shares plunge as oil prices reduce suddenly
Saudi Arabia
Shares of Saudi Aramco 2222.SE fell abruptly in afternoon trade, today, reacting to a 1% drop in oil prices after Saudi Arabia announced plans to boost oil output capacity for the first time in more than a decade.
Aramco shares were trading at 29.70 Saudi riyals ($7.91), down 4.7% from their previous close, and well below their initial public offering price of 32 riyals, which in the December listing valued Aramco at $1.7 trillion.
Related Posts