Saudi Aramco's Q4 earnings likely to decline due to weak oil prices: Al Rajhi Capital

RIYADH: Energy giant Saudi Arabian Oil Co.’s net profit in the fourth quarter of 2022 is expected to drop to SR146 billion ($38 billion), down 6.3 percent from the previous quarter, according to Al Rajhi Capital. In its report, the Riyadh-based firm noted that the reduction in net profit is due to a weak demand outlook amid a global economic slowdown.

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