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International Business Times
International Business Times
Business

The Iran War Continues Keeping Energy Markets On Edge. Saudi Aramco Profits Are Jumping.

Aramco Saudi Aramco Iran Oil the Strait of Hormuz Amin H Nasser Chevron
The world's largest oil producer reported adjusted net income of 125.2 billion Saudi riyals ($33.4 billion) for the three months ended June, up 33% from a year earlier and ahead of analysts' expectations of $31.6 billion. (Credit: Reuters)

Saudi Aramco posted stronger-than-expected second-quarter earnings on Tuesday as higher crude oil and refined product prices lifted revenue during a quarter marked by severe disruption to global energy supplies.

The world's largest oil producer reported adjusted net income of 125.2 billion Saudi riyals ($33.4 billion) for the three months ended June, up 33% from a year earlier and ahead of analysts' expectations of $31.6 billion. The company also declared a base dividend of $21.9 billion for the quarter, CNBC reported.

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