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.

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