We just got the latest sign Saudi Arabia is worried about the future (USO, OIL)
|01/07/2016||Posted by BusinessMediaguide.Com under General World News||
As The Economist is reporting in its upcoming January 9th print edition that Saudi Aramco, the Saudi state-owned oil company believed to be the world’s most valuable company, might issue shares for the first time in its history.
Aramco is a monster.
As The Economist notes, the company produces 10 million barrels of oil each day, a number equivalent to the US’s entire daily output, and has ten times more oil reserves than Exxon.
Aramco is also very good at what it does: Saudi Arabia’s break-even price for oil production is a mere $15 a barrel, second-lowest only to Kuwait and well read more >>>
Source : BusinessInsider.Com