Aramco IPO priced at $1.7 trillion.
OPEC decides on 500,000 b/d "cut" for 1Q20.
But it's producing at that level, so not a cut in reality.
1Q20 demand implies the largest 1Q global stock build since 2016.
Russia maneuvered its "cut" into an increase.
Saudi Aramco (ARMCO) priced its stock at SR32 or $8.53 per share. At that level, the firm has a valuation of $1.7 trillion, the highest of any listed company in the world.