The global oil market is close to regaining stability, Saudi Arabia’s Crown Prince Mohammed said at a meeting with President Trump at the White House ahead of bilateral talks on a number of issues. The Crown Prince added that Saudi Arabia had reserves equal to 84 years worth of supplies. Mohammed is on a two-week visit in the United States and oil is naturally high on his agenda, what with the Aramco IPO coming next year. With regard to this, there will hardly be any major news coming during the prince’s visit: last week Bloomberg’s Javier Blas reported that not all U.S. investors that Saudi officials approached with the Aramco pitch were interested in becoming shareholders in the world’s largest oil company by reserves. A couple of days later it surfaced that Aramco was giving up its plans for an international listing, at least for the time being. Until […]

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