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Saudi Aramco’s Profit Soars as Oil Prices and Output Jump

  • Firm’s net income rose to almost $40 billion in first quarter
  • Aramco follows Big Oil rivals such as BP with bumper earnings
Saudi Aramco benefited not just from oil climbing about 45% this year, but also from the kingdom increasing production.

Saudi Aramco benefited not just from oil climbing about 45% this year, but also from the kingdom increasing production.

Photographer: Simon Dawson/Bloomberg

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Saudi Aramco posted its highest profit since its record stock-market listing, after oil prices surged in the wake of Russia’s invasion of Ukraine.