The oil-rich kingdom hopes that if it keeps a lid on oil production next year the long-awaited initial public offering (IPO) of Saudi Aramco may fetch a good price on its market debut in the next two weeks.
Samba Capital, one of the banks involved in the IPO, said on Friday that almost 90% of the bids from institutional investors had come from Saudi Arabia. The “foreign” investors that made up the balance included banks and asset managers from within the Gulf region.
https://www.theguardian.com/world/2019/dec/01/saudi-arabia-oil-price-stock-market-debut-aramco-ipo
The prospectus said the government will have a “statutory lockup period” for disposing of any shares after the listing for six months, and a contractual lockup period for 12 months. Aramco cannot list additional shares for a period of six months after trading starts, and will also be restricted from issuing additional shares for 12 months.
https://dailystockdish.com/saudi-aramco-prospectus-flags-risks-gives-few-details-on-ipo-size/
Was Iran trying to push down the oil price?:
10NOV2019 Iran discovers new oil field with 50 billion barrels of crude Iran's president has described a massive find in the oil-rich Khuzestan province. But sanctions against Iranian oil could make it difficult for the oil to find its way to international markets.
https://www.dw.com/en/iran-discovers-new-oil-field-with-50-billion-barrels-of-crude/a-51188348
It is difficult to guess the oil price and the coming weeks will be interesting. Sunday 1 DEC oil price 60.45 USD/bbl https://www.bloomberg.com/quote/CO1:COM
Iran has increasingly accepted responsibility for the September 14 attack on Saudi Arabia's Aramco oil facilities in Abqaiq and Khurais, doing away with the pretense that it was an attack carried out by Houthi rebels in Yemen. The admission has been made in snippets and leaks, the way a regime like Tehran prefers to send a message.
Will Iran target Aramco again when it is listed later in December? That will possibly increase the oil price and lower the Aramco price.