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الاقتصادية
Saudi Aramco to benefit from oil demand
Saudi Aramco has revealed its expectations of benefiting from the additional demand for oil, expected as a result of reduced global inventories during the recent crisis. This reduction is anticipated to lead to increased demand as reserves are rebuilt once the crisis ends. The company recorded a net profit of 121.5 billion riyals in the second quarter, surpassing analysts’ expectations, with revenues rising by 19% to 450.8 billion riyals. Officials indicated that the crisis caused the market to lose about 11 million barrels per day of oil, with the Strait of Hormuz traffic dropping to a tenth of its previous levels. They also noted that restoring inventories could take up to 18 months even after shipping resumes. Additionally, Aramco relied on alternative export routes such as Bab el-Mandeb, the Suez Canal, and the Sumed pipeline to manage emergencies. The company achieved the highest return on investment at 22% over 12 months, while its debt ratio declined to 6.2%.
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