Oil giant Saudi Aramco’s second-quarter profit dips 3% on lower crude production volumes

Saudi state oil giant Aramco reported $29.1 billion in net profit for the second quarter, a dip of 3.2% from the same period last year as production volumes remained low.

Aramco reaffirmed its second-quarter base dividend of $20.3 billion, and declared a performance-linked dividend of $10.8 billion to be paid in the third quarter.

The crude producer had an output of 8.99 million barrels per day in the second quarter, according to a July OPEC report citing secondary sources.

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