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Home›Commodities›Energy›Saudi Aramco profits jump 33% in Q2 as Iran-war tighte…

Saudi Aramco profits jump 33% in Q2 as Iran-war tightens supply

The rise comes as higher fossil-fuel prices lift supermajors’ earnings amid an Iran-related squeeze on oil supply.

Reported · Written up by our desk · Energy

Saudi Aramco reported that its profits rose 33% in the second quarter, according to CNBC Markets.

CNBC reports the timing matters, as oil supermajors have broadly posted strong quarterly results while fossil-fuel prices stay elevated.

The outlet attributes the backdrop to the Iran war, which has tightened oil supply and supported higher prices, helping drive Aramco’s earnings higher.

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Sources

CNBC MarketsSaudi Aramco profits jump 33% in second quarter as Iran war squeezes oil supply
CNBC WorldSaudi Aramco profits jump 33% in second quarter as Iran war squeezes oil supply
CNBC EarningsSaudi Aramco profits jump 33% in second quarter as Iran war squeezes oil supply

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