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Saudi Aramco posts record quarterly profit on soaring oil prices

DUBAI — Saudi Aramco posted a record quarterly profit on Sunday as the world’s most valuable company benefits from soaring oil prices following Russia’s invasion of Ukraine.

Saudi Arabian Oil Co., commonly known as Aramco, said its net profit jumped 82% to $39.5 billion in the first three months of 2022. Last week it topped Apple Inc. as the world’s most valuable company, with a market value reaching $2.4 trillion.

wsj

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