Saudi Aramco IPO delayed Well I admit - as a desperate Baytex shareholder - I guessed (hoped) that the Saudi Aramco IPO would be the catalyst for an increased WTI by the end of summer.
In fact - taking the state oil company public is just the opposite of confidence in world crude and the results have reflected that.
I still think that there will be opportunity for WTI to spike in the short term.
The economics of oil say that demand continues to increase but there is so much manipulation in this market. Some day, when the manipulators decide, they will make oil increase.
Some producers can make a business out of it, the rest is just market traders (manipulation).
Nothing more needs to be said.
https://www.reuters.com/article/us-saudi-reforms/saudi-assures-investors-that-reforms-aramco-ipo-on-track-idUSKCN1BK0H1