Saudi Aramco Q3 Profit Drops 2.3% Amid Lower Oil Prices

Saudi Aramco reported a 2.3% decline in third-quarter net income, marking its 11th consecutive quarterly profit drop, primarily due to lower crude oil prices and decreased revenue from refined and chemical products. The company's net profit fell to 101.02 billion Saudi riyals ($26.94 billion), down from 103.4 billion riyals in the same period last year, while quarterly revenue dropped 7.3% to 378.8 billion riyals. Despite the profit decline, Aramco's CEO emphasized the company's adaptability to changing market conditions, highlighting increased production with minimal cost increments. For the first nine months of 2025, net income decreased 9.9% to 283.58 billion riyals, and revenue fell 5.9% to 1.17 trillion riyals compared to the previous year. The company also announced a base dividend of $21.1 billion for the third quarter and a performance-linked dividend of $200 billion to be paid in the fourth quarter. These financial results come amid ongoing volatility in crude prices driven by geopolitical tensions and OPEC+ decisions to raise output caps.