Saudi Aramco Says Profits Plummeted 73% As Oil Demand Waned – The New York Times

Saudi Aramco Says Profits Plummeted 73% As Oil Demand Waned – The New York Times

Saudi Aramco, the world’s largest oil company, said on Sunday that its quarterly profits fell more than 73% from a year ago, as lockdowns imposed to stem the coronavirus pandemic drastically reduced demand for oil and criticized the prices.

Despite the sharp drop in profits, to $ 6.6 billion from $ 24.7 billion, the company said it would continue to pay a quarterly dividend of $ 18.75…

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