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if you have just joined if you havejustjoined us, good to have you with us. we begin with the soaring cost of energy. as governments and central banks grapple with rising inflation and a cost of living crisis, the world s biggest oil company announces record breaking profits. the saudi oil company aramco revealed it made more than $48 billion in profits in the second quarter of this year. the eye watering sum marks a 90% year on year increase and the biggestjump in earnings for the world s largest energy exporter since its public listing three years ago. but what is the outlook for oil prices this year and beyond? the war in ukraine caused a significant spike in the price of energy worldwide prices have come off the highs reached earlier this year and now with fears of recession on the horizon in europe and other key economies globally, there are differing views out there as to where the price of the oil is headed. let s talk this through with craig erlam senior mar ....
Views out there as to where the price of the oil is headed. let s talk this through with craig erlam senior market analyst at oanda. aramco, huge sums of money made, and the boss says it is poised to raise output if asked to by the government to maximum capacity of 12 million barrels a day, give us your outlook for the price of oil? a day, give us your outlook for the price of oil? you summed it u . the price of oil? you summed it u- uuite the price of oil? you summed it up quite well the price of oil? you summed it up quite well in the price of oil? you summed it up quite well in the the price of oil? you summed it up quite well in the intro, - the price of oil? you summed it up quite well in the intro, its i up quite well in the intro, its eye watering, now one of the world s largest companies and exporters, we are seeing record profits across the board pretty much in the oil sector, no surprise that saudi aramco has done the same, they had the potential to raise output over ....