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 market an
war in ukraine and the ongoing aftermath of the global pandemic. all of these factors into the oil price and makes thejob of central into the oil price and makes the job of central banks more difficult, they tend to look past energy prices that is worth noting but there are other fix the cost to businesses when they had to pass on prices this has a factor in the course size of inflation which central banks pay close attention to. i think the considerable uncertainty will carry on until the end of the year and until 2023 as well. joining me now isjonathan robinson global power & energy research director at frost and sullivan. if we just talk about aramco, huge sums of money made, the company says it is poised to increase output daily. there is a lot of pressure on saudi arabia and opec to increase
The world's largest water polo tournament returns this summer with the 2022 USA Water Polo Junior Olympics featuring three sessions from California to Texas.