Saudi energy company Aramco said Sunday its profits jumped 90% in the second quarter compared to the same time last year, helping its half-year earnings reach nearly $88 billion. The increase is a boon for the kingdom and the crown prince's spending power as people around the world pay higher oil prices at the pump.
Aramco's net profits for the first half of the year were helped by strong second-quarter earnings that hit $48.4 billion — a figure higher than the first full half year of 2021, when profits reached just $47 billion.
