Saudi Aramco third-quarter profit slumps 44.6% as pandemic chokes demand
DUBAI (Reuters) - Saudi Arabian state oil giant Aramco 2222.SE on Tuesday reported a 44.6% drop in third-quarter net profit as the coronavirus crisis continued to choke demand and weigh on crude prices.
Share prices of global oil companies have been hammered this year as investors fret over the impact of the pandemic on energy demand and the long-term shift away from fossil fuels.