Aramco Soars on War-Driven Oil Prices

Saudi Aramco's net profit skyrocketed by 44% in the second quarter of 2026, reaching a staggering 122.6 billion Saudi riyals ($32.7 billion). The increase can be attributed to the ongoing war in the Middle East, which has led to higher oil and gas prices.

The oil giant's president and CEO, Amin H. Nasser, stated that despite 'unprecedented supply disruption through the Strait of Hormuz,' Aramco was able to maintain its business continuity due to its diverse asset base and multi-decade planning.

Nasser also downplayed the impact of attacks by the Iran-backed Houthi rebels on Aramco's production, saying that these strikes had 'no material impact on our capabilities.'