General World News

We just got the latest sign Saudi Arabia is worried about the future (USO, OIL)


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