Saudi Aramco CEO says they are able to handle low oil prices.

Amin Nasser, CEO of the world's largest oil exporter, Saudi Aramco, stated that the company is fully capable of handling low oil prices. Nasser made this statement as Saudi Arabia, leading the OPEC+ oil-producing countries alliance, implemented two rounds of production increases beyond the original plan in the past few weeks, leading to oil prices falling to their lowest levels in four years. Currently, the price of crude oil is close to $66 per barrel, far below the International Monetary Fund's estimated level of over $90 per barrel necessary for Saudi Arabia to balance its budget, thus exacerbating the budget deficit. Saudi Aramco is one of the world's lowest-cost crude oil producers. However, despite this, weak oil prices have led to a decline in the company's net profit and increased debt in the first quarter, even though it has reduced dividends. "If there is a company that can handle lower oil prices, it is us," Nasser said.