Saudi Aramco, the world’s largest oil exporter, is now the world’s most valuable company. Aramco has overtaken iPhone maker Apple to become the most valuable company in the market. (saudi arambo became the most valuable company in the world)
Shares of Saudi Aramco traded up 45.95 Saudi riyals ($ 12.25) today. With this, the market value of Aramco reached 9.19 trillion riyals. Aramco’s shares have risen nearly 30 percent since January 2 this year.
Aramco also benefited from higher oil prices in the wake of the Russian invasion of Ukraine. Shares of Aramco have risen as the European Union plans to phase out oil imports from Russia. If Europe decides to impose sanctions on Russian oil, it will have to rely entirely on the Middle East for oil. It is in this context that Aramco is performing well in the market.
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