Aramco Reports Record Profit, Injecting Saudi Kingdom With Cash

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DUBAI—Saudi Arabia’s nationwide oil firm reported file quarterly revenue on excessive crude costs, feeding a vault of cash the dominion’s younger ruler is utilizing to construct new momentum for reforms and strengthen his geopolitical position with the U.S. and Russia.

Saudi Arabian Oil Co., generally known as Aramco, mentioned Sunday that its earnings jumped 90% to $48.4 billion within the three months ending in June from the identical interval a 12 months earlier, resulting from greater crude-oil costs and stronger refining revenue.

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