Saudi Aramco, the national oil company of Saudi Arabia, posted a 22 percent decline in profits for the second quarter of 2025.
It was the tenth consecutive quarter of declining profit for one of the world’s largest companies, driven by slipping oil and petrochemical prices.
Aramco’s problem is that demand for oil remains strong, but supply has grown enormously, and unstable markets are making buyers reluctant to sign massive long-term contracts. The OPEC+ cartel, which includes Russia, has been reversing voluntary production cuts implemented during the economic calamity of the Wuhan coronavirus pandemic and the world is awash in oil as a…
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