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Saudi Aramco: Saudi oil giant’s profit rises by 288% as Covid-19 restrictions ease worldwide

The Saudi Arabian Oil Company, Saudi Aramco, reported profits jump as a result of rise in oil prices and as demand recovers. The company added that the easing of Covid-19 restrictions, vaccinations, stimulus measures and the return of economic activity have supported results. Crude oil prices have risen by more than 30% since the start […]

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Business World

Saudi Aramco’s profits dipped 44.4% in 2020 after lower oil demand

Saudi oil giant Aramco has reported a 44.4 percent plunge in last year’s net profit, as the coronavirus pandemic curbed global demand. The effect of COVID-19 took a heavy toll on the company and its peers in 2020, but oil prices have rallied this year as economies recover from the downturn and after oil producers extended […]