Saudi Aramco Q3 profit soars on higher prices, volumes sold

imageCommodities17 hours ago (Oct 31, 2021 05:45)

© Reuters. FILE PHOTO: A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov/File Photo

DUBAI (Reuters) – Saudi Arabian state oil producer Aramco (SE:2222) said on Sunday its third-quarter net profit more than doubled, boosted by higher crude oil prices and volumes sold, beating analysts forecasts.

Net income jumped to $30.4 billion for the quarter to Sept. 30 from $11.8 billion a year earlier.

Analysts had expected a net profit of $28.4 billion, according to the mean estimate from four analysts.

Saudi Aramco Q3 profit soars on higher prices, volumes sold

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