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Saudi Aramco's profits drop 44%

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Saudi Aramco reported a drop in profits as the COVID-19 pandemic reduced demand for oil.

The world’s largest oil company posted third quarter net income of $11.8 billion, a 44% decrease compared with a year earlier.

However, the Saudi state-owned oil company declared a quarterly dividend of $18.7 billion, a 40% increase from the third quarter of 2019.

Read more from Yahoo Finance.

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