Aramco Q2 Profit Dips on Lower Output, Softer Refining Margins

Saudi Aramco`s second-quarter profits declined slightly due to reduced oil production and lower refining profits, though the results exceeded analyst expectations. The company maintained its dividend projections and emphasized its commitment to growth despite a decline in oil prices and global economic concerns. Saudi Arabia`s government, heavily reliant on Aramco`s dividends, has faced financial pressure due to lower oil revenues, leading to increased borrowing and asset sales.