Saudi Aramco Reports Decline in First-Quarter Profits Amid Market Uncertainty
Saudi oil giant Aramco has announced first-quarter profits of $26 billion, reflecting a 4.6% drop from the same period last year. This decrease in net income is attributed to weaker crude prices and ongoing uncertainty in the oil markets. Despite posting significant profits, there are indications of further challenges ahead, leading to discussions about potential dividend cuts. The mixed reactions in the market highlight the impact of these developments on investor sentiment.
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