Saudi Aramco 2019 profit slides 20.6% on lower crude prices

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Saudi Aramco, the world's largest publicly listed company, says its net income was $88.2 billion in 2019, lower than the $111.1 billion in 2018.

massive production hike

The kingdom said last week Aramco will pump 12.3 million barrels of oil per day , boosting output by at least 2.5 million bpd."The real question everyone wants to know is what's happening in Q1 2020," said Ellen Wald, author of the book"The...insight won't arrive until the next earnings call when we learn how Aramco dealt with the current oil market drama and Saudi politics.

Sources said they were accused of plotting a palace coup to unseat Crown Prince Mohammed bin Salman, heir to the Saudi throne and de facto ruler.

Source: News Formal (newsformal.com)

 

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