Insider trading? Saudi wealth fund buys $1B in oil company shares ahead of supply deal

FORBES | Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), bought about $1 billion worth of shares in four major European oil companies, the Wall Street Journal reported last Wednesday citing a source familiar with the transactions. These four oil majors include Anglo-Dutch Shell, France’s Total, Norway’s Equinor, and Italy’s Eni. Similar large-scale transactions were originated by off-shore companies connected to the Russian insiders, sources in Moscow and in European financial centers are reporting.


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