billion of profit during the july to september period. if the results are in line with what analysts are expecting, that would be a drop of around 25% if not more compared to the same period last year. it is important to note that the oil prices are in a very different place than what they were last year. last year they were about 110 to $120 a barrel because of the russian ukrainian war which led to oil prices touching a record high, and that benefited producers like aramco immensely because they could record profits last year. if you look at the last three months oil prices have been $75 a barrel and have gone up in the last month which may provide some kind of cushion and the other factor is that saudi arabia has also cut down oil production in the last five or six months. for saudi arabia, aramco is the most crucial company because it relies heavily on the income generated by the oil they must to run many other parts of its company behemouth. the results are crucial no
Is involved in such a decision. It beggers belief, really. Good morning. Its february 24th. Welcome to bbc Newsroom Live. The conservatives have labelled their victory in the copeland by election a truly historic event. They took the seat from labour by more than two thousand votes The First Time a Governing Party has won a seat from another party in a by election for 35 years. The area has had a labour mp since the 1930s. For labour, the Shadow Chancellor John Mcconnell called the result disappointing. The party did hold on to the seat of stoke on Trent Central, in the other parliamentary by election result declared overnight. Labour finished two and a half thousand votes ahead of ukip leader paul nuttall. In the last hour the Labour Leader, Jeremy Corbyn has been giving his reaction to the by elections results. After his speech, he is taking questions now. Is defeated in copeland a disaster for the labour party . Its a disappointment. Im very sad about it. We campaign to win it back,
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