Latest Breaking News On - Sherard cowper coles - Page 1 : comparemela.com
between april and june, the company made a profit ofjust over $30 billion, a 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. 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 aramco s biggest shareholder. the saudi government owns
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