Saudi oil giant Aramco posts 5% dip in first-quarter profit on weaker crude prices

So much for ‘drill, baby, drill’?

Hurt by weakening demand and depressed prices, US oil output is expected to shrink in 2026 for the first time since the Covid-19 pandemic and just the second time in the past decade.

Saudi Aramco's profit fall 4.6 pc in first quarter of 2025

Saudi Aramco, the largest oil company in the world, on Sunday, May 11, reported a 4.6 percent decline in its net profit for the first quarter of 2025, totalling SAR 97.54 billion (USD 26.01 billion), down from SAR 102.27 billion (USD 27.27 billion) in the same period last year. In a statement to the Saudi Stock Exchange (Tadawul), the company attributed the decline to lower revenue and sales-related income, combined with increased operating cost…

Saudi Aramco net profits drop 4.6 percent in first quarter

Oil giant Saudi Aramco on Sunday reported a drop of 4.6 percent in its first-quarter net profits as lower sales and higher operating costs hit the lynchpin of the kingdom's ambitious economic reform plans. Profits fell due to "lower revenue and other income related to sales as well as higher operating costs", read a statement published by the Saudi stock exchange. "Global trade dynamics affected energy markets in the first quarter of 2025, with …

Aramco reports near 5% drop in first-quarter profit

Saudi oil giant Aramco reported a 4.6% drop in first-quarter profit on Sunday due to lower sales and higher operating costs.

Saudi oil giant Aramco posts 5% dip in first-quarter profit on weaker crude prices

Saudi Aramco's first-quarter net profit fell 5% year-on-year amid lower oil prices and production.

This decrease is due to "a decrease in revenues and other sales-related products, as well as an increase in operating costs", the group explains.