$CHK Saudi Arabia, the de facto leader of OPEC, is pressuring other members in the cartel to slash output to help Aramco's (ARMCO) IPO set for December, WSJ reports. While the oil giant's growth assumptions, as well as the dividend it's promising investors, are predicated on Brent oil prices of about $65 a barrel, some do not expect another supply cut at this month's OPEC meeting. "The last thing OPEC wants is to give a second wind to shale producers here in the U.S.," Tariq Zahir of Tyche Capital Advisors told MarketWatch
  • 1
  • 1