Saudi oil giant Aramco reported a half-year profit of $56.3 billion, a decrease from the previous year, attributed to concerns about a slowing global economy. Despite this, the company's overall revenue for the half-year increased to $220.7 billion from $218.6 billion the year before. In 2023, profits were $61.9 billion, showing a nearly $5 billion rise.
Aramco remains optimistic about the future, anticipating increased demand from the aviation industry and China. The company's CEO highlighted the strong growth in global oil demand, reaching a record 103.2 million barrels a day in the first half of 2024.
