Saudi Arabian Oil Co

2222: XSAU (SAU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	SAR 82.00	Xxhl	Mrfrywyv

Despite OPEC Cuts Now, Aramco Investments in New Capacity Will Lead to Higher Volumes Over Time

Allen Good

Dec 6, 2023

Business Strategy and Outlook

Aramco’s size and cost position give the company a unique place among all other publicly listed oil companies as the world’s largest oil producer. Low operating and capital costs place its reserves at the bottom of the global cost curve and result in peer-leading returns on capital, leaving Aramco as the sole oil producer to earn a wide moat rating.

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