Saudi Aramco shares fall below IPO price for first time after OPEC deal failure

Saudi Aramco shares fall below IPO price for first time after OPEC deal failure

Shares of Saudi state oil giant Aramco traded below their original IPO price for the first time Sunday, after OPEC’s pact with Russia to restrict oil supplies fell apart. Aramco shares were down 6.2% at 30.85 riyals ($8.22), their sharpest percentage fall in a day, and below the IPO price of 32 riyals. Saudi Arabia’s stock exchange was down 7.7% in afternoon trading.

Chris
Chris
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