Aramco trades below IPO price, after OPEC pact unravels

Aramco trades below IPO price, after OPEC pact unravels

The Saudi Aramco logo is pictured at the company's oil facility in Saudi Arabia, REUTERS/Maxim Shemetov

Shares of Saudi state oil company Aramco slumped below their initial public offering (IPO) price on Sunday for the first time since they began trading in December, after  OPEC‘s pact with Russia to restrict oil supplies fell apart on Friday.

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