According to a report by Bloomberg, Saudi Arabia wants to push the price of crude up from its current level of $65-$70 to near $80 a barrel. The Middle Eastern nation needs that price to boost the valuation of its national oil company, Saudi Aramco, which it plans to take public next year. Hitting its desired sell price would provide the Kingdom with the funds needed to jump-start an investment strategy that would wean its economy off petrol dollars over the next decade.
If Saudi Arabia Gets What It Wants, These Oil Stocks Could Explode Higher
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