Saudi Aramco Profit Falls on Oil-Price Weakness
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Saudi Aramco reported a decline in profits due to weaker oil prices and refining margins. Despite this, the company plans to distribute $31.05 billion in dividends.
November 05, 2024 | 12:30 pm
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The decline in Saudi Aramco's profits due to lower oil prices may impact the United States Brent Oil Fund (BNO), which tracks Brent crude oil prices.
BNO is directly affected by changes in Brent crude oil prices. Saudi Aramco's profit decline signals weaker oil prices, which could negatively impact BNO's performance in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70