Saudi Aramco Q1 profit rose 30% on stronger oil market

Saudi Arabian state oil producer Aramco on Tuesday reported a 30% rise in first-quarter net profit boosted by a stronger oil market and higher refining and chemicals margins.

Net income rose to $21.7 billion for the quarter to March 31 from $16.7 billion a year earlier.
Analysts had expected a net profit of $19.48 billion, according to the mean estimate from five analysts.