1 Day
Source:
الاقتصادية
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Aramco's profit forecast tomorrow
Saudi Aramco expects to announce its financial results for the second quarter, with profits reaching approximately 115 billion riyals, reflecting an annual increase of around 34% supported by rising oil prices and an improved operating environment. During the second quarter, the average Brent crude oil price was about $97 per barrel, marking an increase of 44% compared to last year, which contributed to boosting the company's profits. Aramco also benefited from a return to growth in the profits of its subsidiaries, which posted profitable results after a period of losses, showing a significant increase compared to previous years. The company is projected to achieve profits of around 115 billion riyals, roughly 12% above the targeted price.
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