Oil Company Saudi Aramco Decreased Profit by 73% Demand fell due to new Corona 6:19 on August 10
Saudi Aramco, one of the world's leading oil companies, announced its final profit for the coming April to June, down 73% from the same period last year. The company explains that a drop in crude oil demand due to the global spread of the new coronavirus has affected it.
Saudi Arabia's national oil company "Saudi Aramco" announced the financial results from April to June this day.
As a result, the final profit was about 24.6 billion rials, or 700 billion yen in Japanese yen, a 73% decrease from the same period of the previous year.
Saudi Aramco explains that the reason for the significant decline in profits is that economic activity contracted with the spread of the new coronavirus infection, resulting in a significant decrease in demand for crude oil.
On the other hand, regarding the crude oil market, OPEC, the Organization of Petroleum Exporting Countries led by Saudi Arabia, and oil-producing countries such as Russia have continued to reduce their production, but since this month, the reduction target for production has been reduced.
In this announcement, Nasser CEO of "Saudi Aramco" commented, "Partial recovery has been seen in the international energy market," and demand for crude oil has increased in light of the resumption of economic activity around the world. Showed hope for his recovery.