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Aramco Profit Climbs as War-Driven Oil Rise Offsets Export Hit

Bloomberg.com · last updated

Saudi Aramco reported first-quarter profit that surpassed analysts’ expectations following a war-induced rise in prices of oil and refined fuels.

Adjusted net income rose 26% to almost 126 billion riyals ($33.6 billion) in the quarter compared with a year earlier, according to a statement Sunday. That beat analysts’ profit expectations of 109 billion riyals.

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