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Saudi Aramco, the world's top oil exporter, reported a 2.3% fall in quarterly profits, citing a drop in crude and product prices, although its performance did improve from the previous quarter as oil production rose. Saudi Arabia has been pumping more crude as OPEC+ unwinds voluntary production cuts following several years of cutting back to support the market. In October, crude oil futures fell for a third consecutive month, dropping more than 2% and hitting a five-month low, on fears of a supply glut and U.S. tariff concerns.

Saudi Aramco’s third-quarter profit slips on lower crude prices

Saudi Aramco, the world’s top oil exporter, reported a 2.3% fall in quarterly profits, citing a drop in crude and product prices, although its performance did improve from the previous quarter as oil production rose. Saudi Arabia has been pumping more crude as OPEC+ unwinds voluntary production cuts following several years of cutting back to support the market. In October, crude oil futures fell for a third consecutive month, dropping more than 2% and hitting a five-month low, on fears of a supply glut and U.S. tariff concerns.

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