Lots of developments in the oil world.
Biggest news, I think, is the change leader in Saudi Arabia has been appointed to the position of crown prince, meaning he is first in line for the throne.
Lots of news on dropping oil prices, which are due to increasing production, primarily in the U.S.
6/22/17 – Wall Street Journal – The Saudi Shake-Up Has One Goal: Drag the Country Into Modern Era – King Salman bin Abdulaziz has appointed his son, Mohammed bin Salman, as crown prince, making him the designated successor to the throne. The previous crown prince, Mohammed bin Nayef who was in charge of security, is now in retirement.
Mohammed bin Salman is the person pushing the modernization efforts in the country, trying to move the country away from dependency on oil production and massive subsidies to the population and toward a diversified economy with widespread entrepreneurial mindset. One part of that transition is taking Saudi Aramco public.