Saudi Aramco IPO looks increasingly unlikely in 2018

A view shows the Saudi Aramco oil facility in Dammam, Saudi Arabia. Photo: Hassan Ammar / AFP / Getty Images

The last few days have brought increasingly firm signs that Saudi Aramco's massive international IPO won't happen in 2018.

Why it matters: The IPO is designed to raise tens of billions of dollars to help support the kingdom's economic diversification plans. The selection of the main listing venue is also high-stakes, given the massive fees and action it will bring.