Oil giant Saudi Aramco’s profit slides 23% in third quarter on lower crude prices, volumes


Saudi state oil giant Aramco posted a 23% drop in net profit in the third quarter to Sept. 30, down to $32.6 billion attributable to “the impact of lower crude oil prices and volumes sold,” the company said Tuesday.

The third-quarter net profit result marked a steep decline from $42.4 billion the same time last year, but still beat analyst estimates near $31.8 billion.



This article was originally published by a www.cnbc.com . Read the Original article here. .