21.05.2020 ARAMCO Daily Analysis

21.05.2020 ARAMCO Daily Analysis

While major oil corporations like Royal Dutch Shell and Total SA were cutting their dividend payouts as a result of the extremely low oil prices and excessive supply, Saudi Aramco maintained that they would retain dividend payouts even though their first-quarter profits had dropped. Seems like this is finally paying off because Aramco as of the moment is the first major oil company to regain pre-price-war share price. The company's stock is currently trading slightly above 33.00 Saudi Rials as oil prices keep going up. This comes about as crude oil inventories are still going down and as China, the biggest consumer of crude oil gets back into the business Just last week alone more than $35 million worth of Stocks were traded for each session As of Tuesday this week Aramco is up by 3.1%.