Saudi Aramco reported a 5 year-over-year drop in first-quarter net income, posting $26 billion as lower oil prices and production weighed on results, according to CNBC. The figure beat analyst expectations of $25.3 billion but declined from $27.3 billion in Q1 2024. Aramco cut its bonus dividend to $200 million for the second quarter, shrinking total payouts to $21.36 billion from $31 billion a year earlier. CEO Amin Nasser cited global economic uncertainty and shifting trade dynamics as ongoing challenges. Brent forecasts are now as low as $60 per barrel, well below the $90 needed for Saudi Arabia to balance its budget.