petroleum profit
Aramco income drops, dividends cut amid oil market uncertainty
Distribution of a smaller dividend by the world's biggest oil company will put pressure on Saudi Arabia’s budget in the middle of a spending binge
FAYEZ NURELDINE/AFP via Getty Images
Aramco gas station on the outskirts of the Saudi capital
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Saudi energy giant Aramco reported a drop in first-quarter net income to $26 billion, falling short of market expectations and cutting into a key source of funds for Saudi Arabia’s budget amid an uncertain outlook for oil prices....