Saudi Aramco profits rise as oil price surge and pipeline offset Iran war hit

AI Summary

Saudi Aramco's profits have surged due to rising oil prices, aided by the operational capacity of their east-west pipeline, which helps the firm navigate geopolitical tensions in the Middle East. This pipeline allows the company to continue pumping oil despite challenges such as the ongoing conflict with Iran.

East-west pipeline allows world’s biggest oil company to circumvent the Strait of Hormuz and keep pumping