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Saudi Aramco Profit Beats Expectations as Oil Prices Soar
Saudi Aramco beat analyst estimates of its third-quarter profit as higher crude oil and fuel prices offset the impact of oil supply disruptions due to attacks on its assets. The Saudi state oil giant on Tuesday reported an adjusted net income of $31.2 billion for the third quarter, up from $28.6 billion for the same period last year, and easily beating a $28.7-billion analyst consensus estimate compiled by Bloomberg. Despite the attacks on the East-West onshore oil pipeline bypassing the Strait of Hormuz and other attacks on Aramco infrastructure…
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