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Saudi Aramco Profit Soars 44% Amid Middle East Conflict

Guavy AI Editorial Team
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Saudi Aramco's Q2 profit surged by 44% year-over-year to $32.7 billion, benefiting from higher crude prices driven by the Middle East conflict.

The world's largest oil exporter reported a net income of 122.6 billion Saudi riyals for the April-June quarter, exceeding the median analyst estimate of 116.9 billion riyals.

Aramco's earnings were supported by elevated oil prices despite significant disruptions to regional energy supplies, including Iran's blockade of the Strait of Hormuz and attacks on Saudi-linked shipping in the Red Sea by Yemen's Houthi rebels.

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