Oil giant Saudi Aramco's net income dropped 50 percent in the first half of its financial year, a figure representative of how intensely the coronavirus pandemic has rattled oil markets. Net income for the world's largest crude producer plunged to $23.2 billion over the first six months. In the same period in 2019, the company reported a net income of $46.9 billion. The company also said it would continue paying a quarterly dividend of $18.75 billion, far higher than its cash flow, The New York Times notes. Amin Nasser, Aramco's president and CEO, did say "the worst is likely behind us," adding that "we remain positive about the long term demand for oil." The market has indeed stabilized since oil prices briefly went negative in April, but prices are still down significantly.

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