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Sunday, March 8, 2020

Aramco shares dip below IPO price for first time

Shares in Saudi Arabian state oil giant Aramco fell by as much as 9 % Sunday March 08,2020 as fears over the novel coronavirus, COVID-19, sent oil prices plummeting

It was the first time since Aramco's record-breaking initial public offering that the company's shares dropped below its listing price of 30 riyals

Another factor in the fall of oil prices was a disagreement Friday between Russia and the Saudi-led Organization of the Petroleum Exporting Countries, which ended a four-year collaboration

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