Oil giant Saudi Aramco posts 15% drop in third-quarter profit but maintains dividend
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Saudi Aramco reported a 15% decline in third-quarter profits but decided to maintain its dividend. This news could impact oil-related ETFs like BNO.
November 05, 2024 | 12:30 pm
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NEGATIVE IMPACT
The decline in Saudi Aramco's profits may affect oil prices, potentially impacting the United States Brent Oil Fund (BNO), which tracks Brent crude oil prices.
Saudi Aramco's profit decline suggests potential pressure on oil prices, which could negatively impact BNO as it is directly linked to Brent crude oil prices. However, the maintained dividend might mitigate some negative sentiment.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50