Aramco Q2 Earnings Surge 42% Amid Strait of Hormuz Disruptions
Saudi Aramco, the world's top crude seller, posted a significant surge in its second-quarter net profit. The company disclosed that its earnings attributable to shareholders for the three months through June rose by approximately 42% from a year earlier, reaching 121.5 billion Saudi riyals ($32.4 billion). This increase was mainly driven by stronger prices for crude and refined chemical goods.
The average realized crude price in the quarter stood at $108.10 per barrel, compared to $66.7 per barrel a year earlier and $76.9 per barrel in the first quarter. Hydrocarbon output averaged 9.46 million barrels of oil equivalent per day, down from 12.61 million barrels in the first three months of 2026 due to disruptions at the Strait of Hormuz.
Aramco's chief executive noted that despite the severe supply interruptions, the company maintained its operations steady by leveraging its broad asset portfolio and decades-long planning. This approach enabled continued output and shipments while pushing forward on major initiatives in a challenging regional climate.