Aramco Profit Falls on Oil-Price Weakness

Saudi Arabia's national oil company, Aramco, reported a decline in its third-quarter profit due to a decrease in oil prices and refining margins. Despite this downturn, the company has announced plans to distribute $31.05 billion in dividends. Aramco's latest financial results revealed a net profit of $27.56 billion for the quarter, reflecting a drop from the $32.58 billion achieved in the same period the previous year. This shift underscores the challenges faced by the oil sector amid fluctuating market conditions.