Aramco net income drops with weak oil signaling more strain

Quick Summary:

Saudi Aramco reported a decline in profit in the first quarter as lower crude prices put pressure on the finances of the world’s biggest oil exporter.

That’s primarily because Aramco decided to vastly reduce the performance-linked component of the payout after completing the distribution of the bumper profits from 2022.

Over the past five weeks, Riyadh led the OPEC+ coalition through two bigger-than-scheduled supply hikes, which together with US President Donald Trump ’s trade war, briefly crashed oil futures to a four-year low below $60 a barrel in London.

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Article Details

Author / Journalist: BusinessMirror

Category: BusinessStartups

Markets: PhilippinesQatarSaudi ArabiaUkraineUnited Arab Emirates

Topics: Dividend Year Saudi Lower Quarter Aramco First Payout Strain Billion Percent

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-12 @ 11:03:01 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 504 words

Reading Time: 3 minutes read

Sentences: 22 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 28607141

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About Business Mirror

Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 59 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 8 hours ago

Coverage Areas: Philippines

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #37

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