Aramco Q2 net profit rises 44% to $32.7 billion

Saudi Arabian oil giant Aramco reported a significant surge in second-quarter profits on Tuesday, August 4, 2026, as elevated global oil prices driven by regional conflict more than offset major disruptions to its shipping routes. The state-owned company, the world's largest oil exporter, posted a net profit of $32.69 billion for the three months ending June 30, a 44 percent increase from the $22.67 billion earned in the same period last year.

The profit jump was fueled by a sharp rise in the average price Aramco realized for its crude, which sources indicate exceeded $100 per barrel during the quarter. This price surge is attributed to market volatility and supply fears stemming from an ongoing conflict in the Middle East, which has centered on the strategically vital Strait of Hormuz. Roughly one-fifth of the world's traded oil normally passes through this narrow waterway.

Despite what company President and CEO Amin Nasser described as an "unprecedented supply disruption" at the Strait, Aramco maintained a 98.4 percent supply reliability rate. The company achieved this by capitalizing on its extensive infrastructure, most notably the East-West Pipeline, which allowed it to...