Woodside Profit Surges on Higher Oil Prices Amid Tight Global Markets

Woodside Energy's net profit after tax for the first half of 2026 surged by 27% to $1.67 billion, buoyed by higher oil and LNG prices that offset a 13% decline in production.

The Australian producer reported an underlying profit rise of 7% to $1.33 billion, while operating revenue increased 13% to $7.45 billion.

Woodside's average realized price climbed 20% to $74 per barrel of oil equivalent amid tighter global energy markets, with Middle East supply disruptions and redirected cargoes contributing to the boost.

The company narrowed its 2026 production guidance to 174 million-185 million boe from a previous range of 172 million-186 million boe, while maintaining capital expenditure guidance at $4 billion-$4.5 billion.