Saudi Aramco’s Q1 oil profits decreased by almost 20% year-on-year, a development that is mostly due to lower crude prices and its commitment to OPEC+ output cuts
This was attributed to the plans and initiatives of Saudi Vision 2030 and the reforms, legislation, and launch of promising sectors that contributed to the highest labor force participation rate, despite economic conditions in most countries worldwide.
As the world enters 2022, we appear to be at a crossroads with the possibility of greater geopolitical competition or greater global cooperation ahead.