It’s been a wildly lucrative year for American oil companies. The same is true for their overseas counterparts. Saudi Arabia’s national oil company has reported a 90-percent jump in quarterly profit on the back of high prices worldwide. That 48-billion-dollar net income is the highest Aramco has posted since it started trading on the Saudi stock exchange in 2019.
It's set to be another important week of earnings reports.
Bellweather retailer Walmart will join Home Depot in sharing its quarterly data tomorrow. Target, Lowe’s, and Bath and Body Works will all follow on Wednesday.