Saudi Aramco’s performance has helped boost economic growth even as the U.S. and Europe worry about recession. Saudi Arabia’s national oil company posted a 39% jump in quarterly profit on Tuesday, as high oil prices boosted earnings that help the kingdom pay for an ambitious economic transformation plan at home and expand its diplomatic influence in the region. Aramco, officially named Saudi Arabian Oil Co., said its net income amounted to $42.43 billion in the three months ending in September, up from $30.43 billion in the same period a year earlier, driven by higher crude-oil prices and volumes sold.

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