Saudi state oil giant Aramco reported 112.81 billion riyal ($30.07 billion) in net profit in the second quarter, in a sharp drop from the $48.4 billion recorded in the same period of last year amid a decline in hydrocarbon prices. Second-quarter profit nevertheless came slightly above analyst expectations near $29.8 billion. Analysts had expected second quarter profit of $29.8 billion. This is a breaking news story and is being updated. This article was originally published by Cnbc.com. Read the original article here. Post navigation From Washington to Warsaw, a ‘greenlash’ is picking up steam despite extreme heat Oil prices surge to 4-month highs after Saudi, Russia output cuts