Aramco becomes the second largest company in the world after Apple

Aramco becomes the second largest company in the world after Apple

Riyadh – Arab Today

The share of Saudi Aramco jumped to a record level during Thursday’s trading, benefiting from oil prices reaching their highest levels since 2014, due to concerns about energy supplies left by the conflict in Ukraine. The company’s share rose 4.2% during the session, recording 42.25 Saudi riyals ( $11.26), the highest level ever for the stock, and comes after 3 consecutive sessions of rising.

The stock’s gains since the beginning of this year have reached about 16%, and today’s rise came despite the decline in the main stock index in Saudi Arabia, and with the price of Brent crude exceeding the level of $ 105 a barrel for the first time since 2014. According to the Saudi financial portal “Argaam”, the company’s market value at one stage of trading reached the level of $2.25 trillion, directly behind “Apple”, which amounted to $2.61 trillion, and outperforming companies such as “Microsoft” and “Alphabet”.

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