Oman’s Oil Exploration Firm Plunges After Record $2-Billion IPO

After a record $2-billion initial public offering, OQ Exploration and Production Company (OQEP), Oman’s wholly-state-owned upstream oil and gas operator, fell by more than 8% at its market debut on Monday amid a plunge in international oil prices. Oil prices plummeted by more than 5% in Monday morning trade, after Israel's limited strikes on Iran over the weekend in retaliation for the Iranian missile attack on Israel from early this month. The measured response from Israel and signals from Iran’s Supreme Leader Ayatollah Ali Khamenei…