"This certification underscores why every barrel we produce is the most profitable in the world, and why we believe Saudi Aramco is the world's most valuable company and indeed the world's most important", Minister of Energy, Industry and Mineral Resources Khalid Al-Falih said.
However, it is unclear to what extent the talks with China and al-Falih's remarks will keep the market buoyed, especially given the U.S. Energy Information Administration reporting that the nation's inventories of gasoline rose by 8.1 million barrels and distillates stockpiles (including diesel and heating fuel) jumped by 10.6 million barrels (crude stockpiles fell by 1.7 million barrels).
But prices have partially rebounded in the past few days after a new deal, in which OPEC and non-OPEC oil producers agreed to trim output by 1.2 million bpd, came into effect in January.
Saudi Arabia's gas reserves were also revised upward to 325.1 trillion standard cubic feet from 307.9 trillion.
"We will work with our advisers and find the right time to go to market, and part of that would be a prospectus that would have appropriate financial statements and disclosures", al-Falih said.
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Brent crude had hit US$85 a barrel in early October, but prices dived more than 40 per cent over the following two months on oversupply and fears a trade war between the United States and China could slash demand. The kingdom took a first step in that direction on Wednesday by releasing the first audit of Aramco's oil and gas reserves since 1980.
The estimate is slightly higher than the 266.3 billion barrel figure previously published by the Saudi government.
Saudi Arabia is the world's top oil exporter.
The kingdom on Wednesday raised US$7.5 billion, half of the amount it plans to borrow in 2019, said HSBC, one of the banks involved in the operation.
While crude oil prices fluctuate depending on news events, global politics, and market conditions, the demand for transportation fuel continues to grow steadily, worldwide, according to the company. Meanwhile, promises of patience in raising interest rates from Fed Chairman Jerome Powell soothed anxiety about growth in the US, the biggest oil consumer.