High Oil Prices Help Saudi Aramco Earn $88 Billion in First Half

High Oil Prices Help Saudi Aramco Earn $88 Billion in First Half
Saudi Aramco engineers and journalists look at the Hawiyah Natural Gas Liquids Recovery Plant in Hawiyah, in the Eastern Province of Saudi Arabia on June 28, 2021. Amr Nabil/AP Photo
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DUBAI, United Arab Emirates—Saudi energy company Aramco said Sunday its profits jumped 90 percent in the second quarter compared to the same time last year, helping its half-year earnings reach nearly $88 billion.

Major oil companies had a strong quarter with Exxon Mobil booking an unprecedented $17.85 billion profit while Chevron made a record $11.62 billion. The UK’s Shell shattered its own profit record.