From Yahoo Finance: 2025-05-11 02:09:00

Saudi Arabia’s Aramco reports a 4.6% drop in first-quarter profits to $26 billion due to falling oil prices, impacting development plans. Revenues total $108.1 billion, down from $107.2 billion last year. Trump seeks increased U.S. investments from Saudi Arabia, while Crown Prince Mohammed bin Salman eyes a $500 billion futuristic city project and World Cup infrastructure by 2034. OPEC+ boosts oil production by 411,000 barrels/day amid U.S. tariff uncertainty. Aramco’s stock trades at $6/share, down from $8 a year ago, reflecting market dynamics. Benchmark Brent crude trades at $63/barrel, down from $80. Aramco’s $1.6 trillion market value ranks it among top global companies, shaping oil market trends. A small portion of Aramco trades publicly, with the majority owned by Saudi government to fund expenditures and enrich the royal family.



Read more at Yahoo Finance: Saudi oil giant Aramco announces first-quarter profits of $26 billion, down 4.6% from a year earlier