Saudi Arabia’s planned initial public offering of its state oil company-price-controlling

Saudi Arabia's proposed initial public offering to its state-owned oil company, Saudi Aramco, is stirring speculation that it could spell the end of the rate-control cartel known as the OPEC. But there is a critical point omitted from such a study.

On the surface, it makes perfect sense that after its state-owned oil company has been mentioned, the future of Saudi participation in OPEC is in question. Indeed, a publicly-traded Ar....