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.

Editorial Team Legacy

Published 11 March 2020, 8:00 · Updated 21:47

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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.

Aramco shares plunge as oil prices reduce suddenly

Editorial Team Legacy

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