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Arabia Foundation Quoted in Barron's

Barron's
05.19.2017

From Fatimah S. Baeshen, a strategist at the Washington, D.C.-based Arabia Foundation, a recently-established not-for-profit funded with private and corporate donations to boost U.S. understanding of Saudia Arabia and the Arabian Peninsula:

"Saudi Arabia and Russia—which combined, produce more than a fifth of the world’s oil— both are in favor to prolonging supply cuts through the first quarter of 2018 ... OPEC is due to meet May 25 to decide whether to extend the cuts to the end of the year, which is likely to garner regional support. There is always the potential for non-members to increase production, which may affect pricing. And, the recent statement by the Saudi Minister of Finance, Mohammed Al Jaddan that Saudi Arabia could, in effect, live with $40-per-barrel oil is primarily aimed at reducing doubt around the country’s ability to deliver on its long-term reform strategy and, ultimately, that oil will no longer be a decisive factor in the overall trajectory of the economy."
On the 2018 public offering of a stake in the Saudi national oil company, Aramco, Baishen added: " ... Several bourses are speculated to be in the running with Hong Kong as a potential lead, but there is a Saudi delegation trip to the New York Stock Exchange coming up in the immediate future, so confirmation is still up in the air. There has been some negative feedback domestically, i.e., in terms of Aramco being off-limit, but listing a percentage of it is a tangible indication to the world that Saudi Arabia is changing how does it business—and being more transparent ..."

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