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Oil giant Saudi Aramco sees 2020 profits drop to $49 billion
Saudi Arabia’s state-backed oil giant Aramco says that its profits sharply fell in 2020 to $49 billion. The big drop came as the the coronavirus pandemic roiled global energy markets.
Saudi Arabian Oil Co. on Sunday released its financial results a year after the pandemic sent the price of oil crashing to all-time lows as people stopped moving around the world to slow the spread of the virus.
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