×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: Saudi | Earns | Aramco

Oil Giant Saudi Aramco Sees 2020 Profits Drop to $49 Billion

Sunday, 21 March 2021 02:01 AM EDT

DUBAI, United Arab Emirates (AP) — Saudi Arabia’s state-backed oil giant Aramco says that its profits sharply fell in 2020 to $49 billion. The big drop came as the the coronavirus pandemic roiled global energy markets.

Saudi Arabian Oil Co. on Sunday released its financial results a year after the pandemic sent the price of oil crashing to all-time lows as people stopped moving around the world to slow the spread of the virus. In recent weeks, however, the price has edged up as movement restrictions ease, commerce increases and more people get vaccinated against COVID-19. The public figures offers insight into the health of the region’s largest economy.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


GlobalTalk
Saudi Arabia's state-backed oil giant Aramco says that its profits sharply fell in 2020 to $49 billion. The big drop came as the the coronavirus pandemic roiled global energy markets.Saudi Arabian Oil Co. on Sunday released its financial results a year after the pandemic...
Saudi,Earns,Aramco
108
2021-01-21
Sunday, 21 March 2021 02:01 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved