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12.05.2020 ARAMCO Daily Analysis

Oil giant Aramco released its first-quarter results and it wasn't really surprising that they reported a 25% fall in first-quarter net profit even though

Yazar: editor_1

Yayınlanma: 13 Mayıs 2020 00:49

Güncellenme: 10 Kasım 2024 06:25

12.05.2020 ARAMCO Daily Analysis

Oil giant Aramco released its first-quarter results and it wasn't really surprising that they reported a 25% fall in first-quarter net profit even though their dividend was in line with a plan for a $75 billion payout to shareholders for the year. The reason for the fall in profits is all because of the falling oil prices that came about as a result of the overproduction of oil. As of the moment an Aramco stock is trading for  31.25(1.13%) Saudi Rials
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