scorecardresearchHigh oil prices help Saudi Aramco earn $88 billion in first half

High oil prices help Saudi Aramco earn $88 billion in first half

Updated: 15 Aug 2022, 08:52 AM IST
TL;DR.
The increase is a boon for the kingdom and the crown prince's spending power as people around the world pay higher gas prices at the pump while energy companies rake in top earnings.
(FILES) In this file photo taken on December 5, 2019, a sign indicates the Saudi Aramco in front of the company's offices in the Saudi capital Ryadh. - Oil giant Saudi Aramco unveiled record profits of $48.4 billion in the second quarter on Sunday after Russia's war in Ukraine and a post-pandemic surge in demand sent crude prices soaring. (Photo by FAYEZ NURELDINE / AFP)

(FILES) In this file photo taken on December 5, 2019, a sign indicates the Saudi Aramco in front of the company's offices in the Saudi capital Ryadh. - Oil giant Saudi Aramco unveiled record profits of $48.4 billion in the second quarter on Sunday after Russia's war in Ukraine and a post-pandemic surge in demand sent crude prices soaring. (Photo by FAYEZ NURELDINE / AFP)