From Yahoo Finance: 2025-05-11 12:21:00

Saudi Aramco’s profits fell 5% to $26bn due to global trade worries and oil price dampening. As a result, dividend was cut from $31bn to $21.4bn. Oil prices dropped, with OPEC increasing production, impacting Saudi Aramco’s sales and shares. Trump’s upcoming Middle East visit aims to secure investment deals.

The decline in Saudi Aramco’s profits mirrors similar drops at rival oil giants Shell and BP. Shell’s profits fell by almost a third, while BP saw a 49% drop in profits. Pressure mounts on Saudi Aramco and the Saudi government to diversify the economy away from fossil fuels amidst challenging market conditions.

Read more: Trump’s trade war hits profits at Saudi oil giant