Saudi Aramco ends 4% up at 1-year high

Logo of Saudi Aramco

Shares of Saudi Arabian Oil Co.'s (Saudi Aramco) hit today, Sept. 28, their highest level since September 2020.

The stock closed 4% higher at a one-year high of SAR 36.55, seeing active trading on 31.5 million shares – the highest since September 2020.

Brent oil rose today to its highest level in three years, crossing the $80/barrel mark, amid strong global demand for crude in line with continued recovery from the pandemic.

Aramco was established in Saudi Arabia under a Royal Decree on Nov. 13, 1988. The company is wholly-owned by the Saudi government, with SAR 60 billion paid-in capital, divided into 200 billion ordinary shares without par value.

The company debuted on the Saudi Stock Exchange (Tadawul) in December 2019.

Aramco's main purpose is undertaking all energy-related activities, including hydrocarbon and chemicals, as well as other related and complementary industries, or any other activity within the Kingdom or abroad.