The net profit of the state oil company Saudi Aramco in the third quarter increased by 9% compared to a year and reached 31.2 billion dollars. The improvement in financial results was accompanied by a sharp increase in the average selling price of crude oil. During the quarter, Aramco sold oil at an average of $95 per barrel, 35% more than a year earlier. Such dynamics show how significant the price of raw materials sold is for the largest producer: even when the physical basis of the business is unchanged, an increase in the cost of a barrel can significantly change the financial result. The company's profit grew considerably slower than oil prices: 9% compared to 35%. These indicators cannot be considered interchangeable. The price reflects the sales conditions of the raw materials, where the final profit is determined according to the totality of revenues and expenses. As far as Saudi Aramco is concerned, the quarter ended with an increase in profits, but a comparison between the two rates shows that the increase in oil prices does not translate into profit in the same proportion.

The net profit of the state oil company Saudi Aramco in the third quarter increased by 9% compared to a year and reached 31.2 billion dollars. The improvement in financial results was accompanied by a sharp increase in the average selling price of crude oil. During the quarter, Aramco sold oil at an average of $95 per barrel, 35% more than a year earlier. Such dynamics show how significant the price of raw materials sold is for the largest producer: even when the physical basis of the business is unchanged, an increase in the cost of a barrel can significantly change the financial result. The company's profit grew considerably slower than oil prices: 9% compared to 35%. These indicators cannot be considered interchangeable. The price reflects the sales conditions of the raw materials, where the final profit is determined according to the totality of revenues and expenses. As far as Saudi Aramco is concerned, the quarter ended with an increase in profits, but a comparison between the two rates shows that the increase in oil prices does not translate into profit in the same proportion.