Saudi Aramco IPO. Will need higher prices.. Oil may not hit the lofty prices above US$100 again, but continued strong demand and a pullback on supply – particularly from OPEC countries like Saudi Arabia -- could drive crude oil prices higher, according to Tardif. Plans for an initial public offering of a stake in the Saudi state-owned oil company Aramco could prompt the oil giant to pull back on supply and help drive prices higher, he added. “Do you think they are going to go public when oil is $43? I don’t think so. I think they probably want oil to go higher so we could see them press the pedal less in the months ahead.”
from BNN news.