The initial public offering of Saudi Arabia's state oil company, known as Aramco, has stalled after more than two years of preparation, and government officials as well as people close to the process doubt that it will move forward, The Wall Street Journal reported Thursday. "Everyone is almost certain it is not going to happen," the report said, citing a senior executive at Aramco who was referring to the IPO. Analysts had said that the IPO was at least part of the reason that the Saudis were pushing for higher oil prices. August West Texas Intermediate oil fell $1.37, or 1.9%, to $72.77 a barrel. September Brent oil lost 79 cents, or 1%, to $77.45 a barrel.