Saudi Aramco's third-quarter net profit rises 35 per cent on higher oil prices

Average price per barrel

95.20 US$ a barrel

Saudi Aramco sold its oil for an average of US$95.20 a barrel in the quarter, up from US$70.10 a year earlier.

Net profit rose to US$36.3 billion from US$26.9 billion. Adjusted profit, which leaves out the sale of a stake in a Malaysian refining company, rose 9 per cent to US$31.2 billion.

Background

Oil prices surged after the Iran war began in February. Aramco kept exporting through a pipeline to the Red Sea, which was attacked Sep 10 but has resumed flows.