Saudi Aramco Posts Record Quarterly Profit on Surging Oil Prices

DUBAI — Saudi Aramco posted record quarterly profits on Sunday, as the world’s most valuable company benefited from rising oil prices following Russia’s invasion of Ukraine.

Saudi Arabian Oil Co., commonly known as Aramco, said its net income jumped 82% to $39.5 billion in the first three months of 2022. Last week, it surpassed Apple Inc. to become the most valuable company in the world, with market value increasing. 2.4 trillion dollars.

https://www.wsj.com/articles/saudi-aramco-posts-record-quarterly-profit-on-surging-oil-prices-11652608615?mod=pls_whats_news_us_business_f Saudi Aramco Posts Record Quarterly Profit on Surging Oil Prices

Edmund DeMarche

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