Saudi Arabian state oil producer Aramco on Sunday reported a near four-fold rise in second-quarter net profit, boosted by higher oil prices and a recovery on oil demand. Aramco said its results were supported by the global easing of COVID-19 restrictions, vaccination campaigns, stimulus measures and accelerating economic activity in key markets. Oil prices, boosted by output cuts made by OPEC and other oil producers, closed at $70.70 a barrel on Friday and has gained over 35% since the start of the year.
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