Saudi Arabia will continue to have full control over the oil wells and production of Aramco, after the much-anticipated initial public offering of around 5 percent of the Saudi oil giant next year, Deputy Crown Prince Mohammed bin Salman said on Tuesday. “The wells will still be owned by the government. The company only has the right to benefit from the wells. This is the same as before and there are no changes to that,” said the prince on state television, as quoted by Bloomberg . As for production levels, they will continue to be subject to the OPEC policies and global supply and demand, the prince noted. According to Financial Times , Mohammed bin Salman said on Saudi television that “production is not a political decision, it is an economic one set by supply and demand.” The prince also described the local Saudi criticism to the IPO plan […]