Reuters

Saudi Aramco Q3 profit soars on higher prices, volumes sold

DUBAI (Reuters) -Saudi Arabian state oil producer Aramco 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, it said in a bourse filing. “Our exceptional third quarter performance was a result of increased economic activity in key markets and a rebound in energy demand, as well as our unique low-cost position,” Amin Nasser, Aramco’s chief executive, said in a statement.

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