Aramco profit rises 33% on higher oil prices

Saudi Aramco’s second-quarter profit rose 33% due to higher oil prices and strong refining margins, despite lower export volumes caused by disruptions in the Strait of Hormuz and Bab el-Mandeb. The company maintained operations using infrastructure like the East-West pipeline and Red Sea terminals but faces challenges diverting prewar export levels. Aramco plans to expand export capacity to address future disruptions.