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Saudi Aramco Profit Soars As CEO Warns Hormuz Closure Removes 100 Million Barrels A Week

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-Wes…

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Saudi Aramco's profits soar 44 percent as war boosts oil prices

Oil company Saudi Aramco reported a 44 percent surge in net profits on Tuesday, as the war on Iran sent oil prices soaring. Its net income of 122.6 billion Saudi riyals ($32.7 billion) from April to June was up from 85 billion riyals ($22.7 billion) a year prior, a quarterly statement said. Aramco CEO Amin Nasser sa…

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