Saudi Aramco Profit Soars As CEO Warns Hormuz Closure Removes 100 Million Barrels A Week
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Source: Zero Hedge
Published: 2026-08-04 21:20 UTC+10:00
Section: General
Factuality Score: 100
Opinion Category: Neutral
Topics: Middle East, Military & Defence, Energy, Financial Markets, Trade & Sanctions, World News, War & Conflict
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Snippet:
Saudi Aramco, the world's largest oil producer by volume, reported a 33% jump in second-quarter profits on Tuesday as the war-driven surge in Brent crude, which averaged $97 a barrel, boosted earnings. The company maintained export flows by redirecting crude around the disrupted Strait of Hormuz through its East-West Pipeline to the Red Sea.
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