Mohammed Bin Salman Needs A Little More Out Of Aramco

Saudi Aramco's quarterly profit tumbled 38% in Q2, results released on Monday showed. Net income for the period was $30.1 billion, down dramatically from Q2 of 2022, when the surge in oil prices that accompanied Russia's military misadventures drove a bumper haul approaching $50 billion. Allow me to put these numbers in context. After falling by more than a third, Aramco's Q2 haul was still 50% higher than Exxon's most profitable quarter in 152 years of corporate history. Late last year, El