Trump’s trade war hits profits at Saudi oil giant

The uncertainty launched by the trade war, Donald Trump, launched a financial blow to the state’s oil giant in Saudi Arabia before the Kingdom’s prominent US president’s visit this week.

Saudi Arabia, Aramco, the world’s largest oil company, said on Sunday that the profits during the first quarter of the year decreased by 5 percent to 26 billion dollars (19.5 billion pounds), as fears of the World Trade Trading weakens.

This led to the company reduced its profits from $ 31 billion to 21.4 billion dollars in the last quarter of last year.

“The dynamics of global trade have affected the energy markets in the first quarter of 2025, with the economic uncertainty that affects oil prices,” said Amin Nasser, CEO of Saudi Aramco.

Oil prices fell in the wake of the announcement of the “Tahrir Day” tariff for Mr. Trump, due to fears that it will slow economic activity around the world.

The OPEC Cartel’s decision to increase production also increased pressure on crude oil prices, which is now about $ 64 a barrel.

Saudi Aramco said it sold barrels of crude oil at an average price of $ 76.30 in the first quarter, compared to $ 83 during the same period last year.

The shares of work also decreased by more than 3 % last month and decreased by approximately 17 percent during the past year.

This comes at a time when Trump is preparing to take a tour in the Middle East this week, as he will visit the Kingdom of Saudi Arabia, Qatar and the United Arab Emirates in the hope of hitting a series of profitable investment deals.

Mr. Trump said he hoped to persuade Riyadh to invest more than one trillion dollars in the American economy.

Caroline Levitt, the White House press secretary, said last week, Mr. Trump was looking for a “historic return” to the Middle East.

She said: “President Trump will return to reformulate his continuous vision of the Middle East proud, prosperous and successful, as the countries of the United States and the Middle East are in cooperative relations, and where extremism is defeated instead of trade and cultural exchange.”

“The Trump administration wants this trip to be a big problem. This means a lot of ads of the wonderful deal and cooperation that can be sold as good to America,” Robert Motgelniki, the first resident researcher at the Arab State Institute in Washington, told Reuters.

Meanwhile, the profits to Saudi Aramco’s profits follow similar declines in the competing oil giant and BP.

BP published a decrease in 49 % profits in the first quarter of last month, while Shell’s profits for the same period decreased by about a third.

For Saudi Arabia, which is owned by 81.5 percent by the Saudi government, it will add pressure on the Kingdom’s leadership because it is battles to diversify its economy away from fossil fuels.