Aramco Posts 44% Profit Surge to US$32,690 Million Despite Hormuz Disruption

Saudi Aramco, the world's largest crude exporter, reported on August 4 a net profit of US$32,690 million in the second quarter of 2026, 44% higher than a year earlier, according to BNN Bloomberg. The result comes amid the disruption of the Strait of Hormuz, closed since February by the war between the U.S. and Iran.

The conflict has removed more than 2,600 million barrels from the global market since February, according to Aramco CEO Amin Nasser, a figure equivalent to nearly one month of global crude production. The closure of Hormuz, through which a substantial portion of oil trade flows, forced the company to reroute shipments through the East-West pipeline to the port of Yanbu on the Red Sea. The disruption widened last month when Yemen's Houthis announced a blockade of the Saudi oil industry and attacked facilities at two Red Sea ports. The pressure on Brent and WTI benchmarks, which index the price of the Mexican Mix, is sustaining refining margins in the U.S. Gulf and the value of Mexican exports.

Aramco produced 9.5 million barrels per day in the second quarter, down from 12.8 million a year earlier, and maintains a maximum sustained capacity of 12 million barrels per day, according to the earnings release. Nasser estimated that restoring depleted inventories would take up to 18 months at an average rate of 2.1 million barrels per day, even if the strait reopened today, and that the industry has few buffers against further disruptions. World refineries are operating near maximum utilization and refining margins remain strong, a signal of tension in refined product and fuel markets. The company said the attacks on its facilities caused minor production interruptions, with no material impact on its operations or finances.

The central question is whether the Hormuz disruption and the Red Sea threat prove prolonged. Aramco said it can return to pre-conflict production within days and reach 12 million barrels per day in three weeks; the Brent and WTI benchmarks, and with them the Mexican Mix, will continue to reflect supply-side tension.

This article was written with the assistance of artificial intelligence from verified sources and reviewed by a human editor before publication.