Liam Denning, Columnist

Saudi Aramco’s Stock Trades on a Different Planet

The world’s biggest oil major doesn’t hold an earnings call in the middle of an oil crisis, and it barely matters.

May 12, 2020 at 9:54 AM EDT

Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column.

Blissfully sheltered.
Photographer: Bloomberg/Bloomberg

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Don’t worry if you missed Saudi Aramco’s earnings call: There wasn’t one. Now the sticklers and bores among you might raise a hand and suggest that, what with the global pandemic, oil crash and assorted what-have-yous, it might be advisable for the biggest oil major in the world to spare an hour for an update. But honestly, does it really matter? I mean, look at this:

Shares in Saudi Arabian Oil Co., to give the company its full name, closed on Tuesday 2% below where they floated in December. You remember December, right? Possibly it’s the last time you had a haircut or felt completely safe getting on a plane.

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