DUBAI, United Arab Emirates (AP) — Saudi oil giant Aramco reported Tuesday a $26.9 billion profit in the third quarter, down slightly from last year as global energy prices remain depressed over concerns of too much oil being on the market.

In filing on Riyadh’s Tadawul stock exchange, Aramco, formally known as the Saudi Arabian Oil Co., reported overall revenue of $111 billion in the third quarter, compared with $123 billion in the same period last year.

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