Saudi Aramco Q1 profit falls 4.6% to $26 billion

Dubai: Saudi Arabia’s state-owned oil giant Aramco posted first-quarter (Jan-March, 2025) profits of $26 billion on Sunday, down 4.6 per cent from the previous year.

Aramco, formally known as the Saudi Arabian Oil Co, had revenues of $108.1 billion over the quarter, the company reported in a filing on Riyadh’s Tadawul stock exchange.

The company saw $107.2 billion in revenues and profits of $27.2 billion the same quarter last year.

Aramco’s stock traded over $6 a share Thursday, down from a high of around $8 last year.

It has dropped over the past year as oil prices have dipped, and in recent months, as the OPEC+ oil cartel announced restoring production more rapidly and as uncertainty driven by the tariffs introduced by the United States has rippled through Middle Eastern markets.

Global oil benchmark Brent crude traded Friday at over $63 a barrel, down from highs of over $80 in the last year. a