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plunging profits. oil giant saudi aramco makes less money amid lower global prices but still boosts its payout to shareholders. end of the road for an american icon. yellow trucking files for bankruptcy after delivering years of losses. welcome to world business report, i m victoria valentine. one of the world s biggest companies has reported a sharp drop in profits. that company is the saudio oil giant saudi aramco, and it s feeling the effects of lower oil prices, lower than expected demand from china, and thinner profit margins for refining oil.
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that company is the saudio oil giant saudi aramco, and it s feeling the effects of lower oil prices, lower than expected demand from china, and thinner profit margins for refining oil. between april and june, the company made a profit ofjust over $30 billion, lot of money by anyone s 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 russia s 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 it s boosted those to nearly $30 billion in the current period.
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also has a lot of questions they re still working through as we can very well see. thank you, shimon. appreciate it. let s go to the timeline. police in uvalde are forced to correct details on what happened once the shooter entered the campus, this time having to do with whether a teacher allowed the killer to get inside. and also new saudio of the schol district s message to the parents. nick valencia live in uvalde with more on this. hi, nick. reporter: hi, kate. there are shifting details when it comes to this case and it s frustrating to us. you can only imagine for those families at the center of this tragedy, and our affiliate, ksat gives us new audio with insight what was going on in the first chaotic moments last tuesday. this audio message sent by the school to uvalde parents while officers were at the school and at least two children were on the phone with 9-1-1 begging for
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