17:01 - 7.08.2023

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The net profit of Saudi Aramco, the national oil company of Saudi Arabia, dropped by 29.5%  in the first half of the year compared to the same period last year due to low oil prices.

ABC.AZ reports that according to the financial balance published by the company, Aramco's net profit for the period from January to June fell to $61.9 billion.

For the same period last year, the company reported a net profit of $87.9 billion.
The below-than-expected results are explained by falling crude oil prices amid global economic uncertainty and a decline in the refinery's profit margins.