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Saudi Aramco Profit Soars As CEO Warns Hormuz Closure Removes 100 Million Barrels A Week

Saudi Aramco Profit Soars As CEO Warns Hormuz Closure Removes 100 Million Barrels A Week Saudi Aramco, the world's largest oil producer by volume, reported a 33% jump in second-quarter profits on Tuesday as the war-driven surge in Brent crude, which averaged $97 a barrel, boosted earnings. The company maintained export flows by redirecting crude around the disrupted Strait of Hormuz through its East-West Pipeline to the Red Sea. Adjusted net income for the quarter surged to $33.4 billion from $25.2 billion a year earlier, beating the Bloomberg Consensus estimate...
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Mar 26, 2026 / Tyler Durden
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Mar 29, 2026 / Tyler Durden
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