Aramco profit surges to another record on bumper oil market

The state Saudi Arabian oil giant posts another major profit in a market with elevated crude prices and ”healthy” demand.

Photo: Maxim Shemetov/Reuters/Ritzau Scanpix

Saudi Aramco posted the biggest quarterly adjusted profit of any listed company globally driven by high crude prices and production.

Aramco followed big oil rivals reporting a surge in profits. Net income rose to USD 48.4bn in the second quarter, up from USD 25.5bn a year earlier, the state-controlled company said on Sunday. Its free cash flow rose by 53% from a year earlier to USD 34.6bn.

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