(MENAFN) The global decline in crude oil prices in the Saudi Arabian Oil Company “Aramco” led to the loss of $ 80 billion of its value in the market during the morning trading session today, Thursday.
The US announcement of a ban on air traffic from all European countries, except Britain, contributed to the opening of Thursday’s session on the decline in crude futures prices by 4 percent, while Aramco shares fell by 4.9 percent in the same session.
And compared to 29.7 riyals ($ 7.92) was recorded by Aramco shares yesterday, Wednesday, as the index showed its decline during Thursday’s session after recording 28.20 riyals ($ 7.52).
During the trading sessions this week, the shares of the company, which is the largest oil producer in the world, were affected by the fluctuations in global crude prices.
The purchasing value of the company decreased in the market from 5.94 trillion riyals (1.584 trillion dollars) achieved by the Foundation’s stock index at the close of Wednesday, to reach during the trading today to 5.64 trillion riyals (1.504 trillion dollars) driven by a drop in crude prices.