Saudi oil giant Aramco announces $121 billion profit last year, down from 2022 record

Saudi oil giant Aramco reported Sunday a $121 billion profit last year, down from its 2022 record due to lower energy prices. Aramco made the announcement in a filing in Riyadh's Tadawul stock market. “The decrease mainly reflects the impact of lower crude oil prices and lower volumes sold, and weakening refining and chemicals margins,” the company said in its filing.