If you’re into those sectors, Saudi’s Aramco blasted a pretty decent quarter, as oil prices globally recover from the 2020 death-sentence, with economic engine bouncing back.
Quick look at numbers:
- Profits jumped 288% to $25.5 billion
- Cash flows of $23 billion, up nearly 4x from last year
- Saudi’s always pay their debts — with net debt falling down to 19.4%, helped by the sale of a oil-pipelines business
Also, Aramco said it’ll invest aggressively in improving its production capacity — while its competition is tied on a leash by the “green” agenda of western regulators.
Bottomline — as the world starts to stand on its two feet, commodities will only see better days. Oil is already up 40% this year to a record $70 per barrel. There’s time until we save the planet, until then, easy $ on the table…