Saudi Aramco’s profits increased in the first quarter of 2026 as the conflict-driven oil price spike outweighed the impact of production losses. Adjusted net earnings surged by 26% against the same period last year to $33.59bn as Aramco has been able to avoid much of the fallout from the Strait of Hormuz closure by diverting crude exports to its Red Sea coast.
“Aramco’s first quarter performance reflects strong resilience and operational flexibility in a complex geopolitical environment. Our East-West Pipeline, which reached its maximum capacity of 7mn b/d, has proven itself to be a critical supply artery, helping to mitigate the impact of a global energy shock and providing relief to customers affected by shipping constraints in the Strait of Hormuz,” said CEO Amin Nasser during the 11 May Q1 earnings call. (CONTINUED - 773 WORDS)
