Aramco Surges to Record Earnings Amid Global Oil Price Volatility

Aramco's second-quarter earnings have surpassed analyst expectations, despite selling a quarter less oil than in the same period last year.

The company reported a net income of SAR 122.6 billion (USD 32.7 billion), a 44% increase from the previous year, with an average realized crude price of USD 108.1 per barrel.

OPEC's crude oil production rose by around 1.2 million barrels per day in July, mainly due to increased output from Saudi Arabia, Kuwait, and Iraq.