Saudi oil massive Aramco posts 5% dip in first-quarter benefit on weaker crude costs

Saudi Aramco’s first-quarter web benefit fell 5% year-on-year amid decrease oil costs and manufacturing.

Net source of revenue for the 3 months to March 31 got here in at $26 billion, down from $27.3 billion for the identical length closing 12 months, the corporate reported. The determine used to be reasonably above analyst expectancies of $25.3 billion.

Aramco introduced its unfastened money glide for the quarter at $19.2 billion, down from $22.8 billion within the first quarter of 2024, and money glide from running actions at $31.7 billion in comparison to closing 12 months’s $33.6 billion.

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