Between april and june, the company made a Profit Ofjust over 30 billion, a lot of money by anyones metric, but significantly down from more than the 48 billion it made in the same period a year ago. The main reason is, as you can see here, that oil prices during the period were at the lowest point in the last year, as the boost they got from russias invasion of ukraine wore off. And last week, in an effort to keep them that way, saudi arabia said it would only produce nine Million Barrels a day. That extended Production Cuts by the 0pec group of big oil producers, who profit more from a higher price. When it comes to saudi aramco, those higher prices mean higher Dividend Payments for shareholders, and its boosted those to nearly 30 billion in the current period. So i put it to our middle east Business Correspondent Sameer Hashmi that even with falling profits, the biggest winner is the saudi government, which is aramcos biggest shareholder. The saudi government owns around 90 of the c
the old supply and demand. what happened was that during the pandemic, we had all that time when people were sat at home and they were ordering goods from e commerce giants like amazon and walmart and others but then once the economy started to reopen, people started going out more and they switch their spending away from goods and services. so they were buying less physical products, that meant ultimately there was less demand for shipping items and so right now, you have more shipping capacity than there is demand so even with the disappearance of yellow, customers who use the service shouldn t have a problem finding alternative at a decent price because at the moment, the capacity that exists right now in shipping exceeds demand. thank ou ve in shipping exceeds demand. thank you very much- to croatia now, where tourism is the largest industry. its long stretch of adriatic coastline draws in visitors from all over the world, but like many places they are facing