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ReportedShipping, energy & marketsSaudi Arabia

Saudi Aramco reports $31.2 billion quarterly profit as higher prices offset supply disruptions

Mountain Time
Local time
12:45 PM in Riyadh
Where
Saudi Arabia

Saudi Aramco reported third-quarter adjusted net income of $31.2 billion, up from $28.6 billion a year earlier and above the $28.7 billion analyst consensus cited by OilPrice.com. Higher crude prices and refining margins offset supply disruptions linked to attacks on its infrastructure. Adjusted downstream earnings before interest and tax rose to $10.3 billion from $3.1 billion.

Why it matters

Aramco’s results show higher crude prices and refining margins offsetting disruption costs for the Saudi producer, even as reduced refinery output and exports drive up fuel costs for buyers.

Source

Confidence: Published by a named news organization. Not yet independently confirmed. About confidence labels