Dhaka, Nov. 4 -- Saudi Arabian oil company Aramco, the world's top oil exporter, reported a 2.3 per cent decline in its quarterly profit on Tuesday, citing lower revenue resulting from a drop in crude and product prices.

Aramco reported a net profit of 101.02 billion riyals ($26.94 billion) in the three-month period ended September 30, down from 103.4 billion riyals last year.

OPEC+, which pumps about half of the world's oil, has been unwinding voluntary cuts, after cutting back production for several years to support the market, reports Reuters.

Brent and WTI in October fell more than 2.0 per cent for a third consecutive month, hitting a five-month low on October 20 on fears of a supply glut and economic concerns about US tariffs.

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