Saudi oil giant Aramco announces first-quarter profits of $26 billion, down 4.6% from a year earlier

Gabe Levin

Sun, May 11, 2025, 2:09 AM 1 min read

DUBAI, United Arab Emirates (AP) — Saudi Arabia’s state-owned lipid elephantine Aramco posted first-quarter profits of $26 cardinal connected Sunday, down 4.6% from the anterior year.

Aramco, formally known arsenic the Saudi Arabian Oil Co., had revenues of $108.1 cardinal implicit the quarter, the institution reported successful a filing connected Riyadh’s Tadawul banal exchange. The institution saw $107.2 cardinal successful revenues and profits of $27.2 cardinal the aforesaid 4th past year.

Aramco’s banal traded implicit $6 a stock Thursday, down from a precocious of astir $8 past year. It has dropped implicit the past twelvemonth arsenic lipid prices person dipped, and successful caller months, arsenic the OPEC+ lipid cartel announced restoring accumulation much rapidly and arsenic uncertainty driven by U.S. tariffs has rippled done Middle Eastern markets.

Benchmark Brent crude traded Friday astatine implicit $63 a barrel, down from highs of implicit $80 successful the past year.