Soaring Oil Prices Make Saudi Aramco a $2 Trillion Once Again

Published October 6th, 2021 - 10:00 GMT
Soaring Oil Prices Make Saudi Aramco a $2 Trillion Once Again
Aramco is the world’s third-biggest company by market valuation. (Shutterstock)

Gains in crude this week resulted in the rise of Saudi Aramco stock (5%), making it a $2 trillion company once again.

Futures increased on Monday after the OPEC+ members committed to its plan for slow and steady supply increases, while the demand for gas is escalating due to the global shortage. On the other hand, the global gas crunch is boosting the oil demand and thus extending the gains.

It's worth noting that Aramco is the world’s third-biggest company by market valuation. The only bigger companies in that category are Apple Inc. and Microsoft Corp.


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