Aramco profit dips amid uncertainty

SAUDI OIL GIANT Aramco, a longtime cash cow for the kingdom, reported a 4.6% drop in first-quarter profit on Sunday due to lower sales and higher operating costs as economic uncertainty hit crude markets.

- REUTERS

The world's top oil exporter reported net profit of 97.54 billion riyals ($26.01 billion) in the three months ended March 31, which beat a company-provided median estimate from 16 analysts of $25.36 billion.

The shares were up 0.64% to 25.00 riyals as of 0754 GMT, though down 10.9% so far this year.