Saudi Aramco made $39 billion in profits in just three months.

The Saudi energy behemoth now has the largest market capitalization in the world.

Saudi Aramco reported an 82% increase in first-quarter profit on Sunday, owing to rising oil prices that propelled the Saudi energy giant to the top of the world’s market capitalization rankings.

Saudi Aramco said in a statement that its net income was $39.5 billion, up from $21.7 billion in the same period last year, “primarily driven by higher crude oil prices and volumes sold, as well as improved downstream margins.”

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