Post by rubl on Mar 20, 2022 16:55:53 GMT 7
No mention of increase in oil exports planned. 'Free market' mechanism of supply and demand, check your power bill.
"Saudi Arabia hikes oil investments as it profits from price surge
Saudi Arabia's state oil company Aramco, under pressure from the West to boost output amid soaring prices, pledged on Sunday to hike investments by around 50% this year as it reported a doubling in 2021 profits.
Saudi Aramco (2222.SE) benefitted from a more than 50% surge in oil prices last year, as increased COVID-19 vaccination rates and loosening restrictions resulted in demand outpacing supply."
www.reuters.com/business/energy/saudi-aramco-2021-profit-soars-higher-oil-prices-2022-03-20/
"Saudi Arabia hikes oil investments as it profits from price surge
Saudi Arabia's state oil company Aramco, under pressure from the West to boost output amid soaring prices, pledged on Sunday to hike investments by around 50% this year as it reported a doubling in 2021 profits.
Saudi Aramco (2222.SE) benefitted from a more than 50% surge in oil prices last year, as increased COVID-19 vaccination rates and loosening restrictions resulted in demand outpacing supply."
www.reuters.com/business/energy/saudi-aramco-2021-profit-soars-higher-oil-prices-2022-03-20/
