Saudi Aramco’s Q2 profits drop amid lower oil prices

Dr Carole Nakhle, CEO of Crystol Energy, is quoted in this article from CNBC, commenting on the 38% drop in profits that Saudi Aramco posted in the second quarter of 2023.

According to Dr Nakhle, this is still a strong financial position. It’s not as astonishing as the results that we saw last year – but this is aligned with the overall industry trend.

She further highlighted that at Aramco the decline in production also needs to be factored in. 

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