Saudi Aramco Q3 profit falls 23% on lower crude oil prices, volumes

Saudi Aramco profits down 23% on lower oil prices, cuts

RIYADH — Energy giant Saudi Aramco on Tuesday posted a 23 per cent year-on-year drop in profits for the third quarter, the result of lower oil prices and production cuts.  The drop from $42.43 billion last year to $32.58 billion "principally reflects the impact of lower crude oil prices and volumes sold", the firm said in a statement to the Saudi stock exchange. It follows a drop in net profit for Aramco, one of the world's richest companies, of…

Saudi Aramco Q3 Profit Slips 23% As Oil Prices And Production Fall

Saudi Aramco reported on Tuesday a 23.2% annual decline in its third-quarter net income as lower oil prices and lower oil sales weighed on profits and cash flows. Aramco booked a net income of $32.6 billion for the third quarter of 2023, down from a net income of $42.4 billion for the same period of 2022, the world’s largest oil firm by market capitalization and production said today.  “The decrease principally reflects the impact of lower crude…

Saudi Aramco reports 23% drop in Q3 net profit amid lower oil prices

RIYADH: Saudi Aramco reported a 23 percent decline in third-quarter net profit on Tuesday, marginally beating analysts’ estimates, as a result of lower crude oil prices and reduced volumes sold. The net profit decreased to $32.6 billion for the quarter ending on Sept. 30, down from $42.4 billion in the same period the previous year. The company said its operational and cash

Saudi Aramco Quarterly Profit Falls on Lower Prices, Volumes

Saudi Arabia’s national oil company reported a drop in third-quarter profits to $33 billion due to lower energy prices and volumes sold.

Oil giant Saudi Aramco's profit slides 23% in third quarter on lower crude prices, volumes

Saudi Aramco Q3 profit falls 23% on lower crude oil prices, volumes

DUBAI (Reuters) - Saudi Aramco on Tuesday reported a 23% fall in third quarter net profit, marginally beating analyst's estimates, on lower crude oil prices and volumes sold. Net profit declined to $32.6 billion for the quarter to Sept. 30 from $42.4 billion a year earlier. Analysts had expected a net profit of $31.8 billion in the third quarter, according to the median estimate from 12 analysts. (Reporting by Yousef Saba and Hadeel Al Saye…