FILE - Storage tanks are seen at the North Jiddah bulk plant, an Aramco oil facility, in Jiddah, Saudi Arabia, on March 21, 2021. Oil giant Saudi Aramco said Sunday, March 12, 2023, it earned a $161 billion profit last year, attributing its earnings to higher crude oil prices. Amr Nabil/AP hide caption
Amin Nasser, president and chief executive officer of Saudi Aramco, speaks during the fourth edition of the Future Investment Initiative conference at the Ritz-Carlton hotel on Jan. 27, in Riyadh, Saudi Arabia. Fayez Nureldine/AFP via Getty Images hide caption
Sheikh Ahmed Zaki Yamani, Saudi Arabia's then-oil minister on Dec. 1, 1973, in London during talks on the oil crisis. Roger Jackson/Central Press/Getty Images hide caption
President and CEO of Saudi Aramco Amin Nasser and company chairman Yasir al-Rumayyan at a press conference in Dhahran, Saudi Arabia on Sunday. The privately-owned oil giant announced it will IPO next month. AFP via Getty Images hide caption
The newly appointed Saudi energy minister, Prince Abdulaziz bin Salman (left), meets with his father King Salman, in a handout picture provided by the Saudi Press Agency on Monday. Saudi Press Agency via AFP/Getty Images hide caption
Flames are seen at the production facility of Saudi Aramco's Shaybah oilfield in May. Ahmed Jadallah/Reuters hide caption
Saudi women shop at a mall in Riyadh last December. With oil prices down, the kingdom is trying hard to reform its economy and attract outside investment. Khalid Mohammed/AP hide caption