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Saudi Aramco's stock just recovered to its level before the oil price war

Saudi Aramco's stock just recovered to its level before the oil price war
REUTERS/Ahmed Jadallah



Shares of the state-led Saudi Aramco gained as much as 3.09% on Tuesday, rising with the price of crude oil.




Aramco is trading at levels not seen since March 5, when a price war erupted between Saudi Arabia and Russia.




It's the first major oil producer to have its stock price recover from the price war.




Since, major producers have agreed to slash output, and oil demand is showing signs of recovering as economies around the world reopen from lockdowns to contain COVID-19.




Watch Saudi Aramco trade live on Markets Insider.




Read more on Business Insider.




Saudi Aramco, the most valuable company in the world, also just became the first major oil producer to see its share price rebound to trade at levels last seen before the price war.
Shares of the state-led Aramco gained as much as 3.09% on Tuesday. That brought its share price back to its March 5 level, the date of the OPEC+ meeting that preceded the start of the oil price war between Saudi Arabia and Russia.
Aramco shares have been lifted by the price of crude oil and the company's commitment to its dividend. On May 12, the company said it would still pay its dividend despite a slump in first quarter profits.
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