Oil giant Saudi Aramco 2020 profits have fallen by $ 49 billion

Saudi Arabia’s state-backed oil giant Aramco says its profits fell sharply to $ 49 billion in 2020. The coronavirus virus epidemic caused major declines in global energy markets.

The Saudi Arabian oil company released its financial results after a year on Sunday, as oil prices crashed to all-time lows as people stopped going around the world to slow the spread of the virus.

In recent weeks, however, price increases have intensified as restrictions, commerce increases and more and more people are vaccinated against COVID-19. Public figures provide insight into the health of the region’s largest economy.