<h1>Aramco Reports $106.25B Profit in 2024, Down 12% Amid Lower Oil Prices; Impact on Saudi Projects Looms</h1> Saudi Arabia's state-owned oil giant Aramco reported a $106.25 billion profit in 2024, a 12% decrease from the previous year due to lower energy prices. The company's revenues for the year were $436 billion, with profits declining from $121 billion in 2023. Aramco's stock price has fallen as oil prices dropped, with Brent crude at $73 per barrel. Aramco remains the world's sixth-most valuable company with a market value of $1.74 trillion. OPEC+ plans to increase oil production starting in April, which may further reduce oil prices. Lower revenues impact Saudi Arabia's development projects, including the NEOM city and preparations for the 2034 FIFA World Cup.