Saudi Aramco Q3 profits rise 34.6% to $36.2bn amid conflict
Saudi Aramco just posted a huge 34.6% jump in profits for the third quarter, reaching $36.2 billion, even as the Middle East faces ongoing conflict and attacks on Saudi oil facilities.
Higher crude prices have helped boost earnings, showing how resilient Aramco can be when things get unpredictable.
IMF predicts Saudi economy falls 3.3%
The conflict, especially after US and Israeli strikes in the region earlier this year, has shaken up global energy supplies.
Key shipping routes like the Strait of Hormuz are under tight security now, with US naval escorts protecting oil exports.
Despite Aramco's strong numbers, Saudi Arabia expects a budget deficit and the International Monetary Fund predicts its economy will shrink by 3.3% this year, showing just how much these tensions are impacting more than just one company.