Surging Oil Prices Drive 33% Jump in Saudi Aramco’s Adjusted Profit
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Saudi Aramco reported a 33% year-over-year increase in adjusted net income for the second quarter of 2026, reaching $33.385 billion compared to $25.19 billion in Q2 2025. This performance surpassed analyst expectations of approximately $31 billion, driven by surging global oil prices and the company’s successful efforts to bypass shipping disruptions in the Strait of Hormuz.
During the second quarter, Aramco’s average realized crude oil price reached $108.1 per barrel, up from $76.9 per barrel in the first quarter and $66.7 per barrel in Q2 2025. For comparison, Brent crude averaged $97 per barrel during the same period.
The state-owned company maintained its base dividend of $21.9 billion for the quarter, which will be distributed to shareholders—primarily the Saudi government—in the third quarter.
Aramco’s management highlighted that its extensive infrastructure, including storage facilities, export terminals, and the East-West Pipeline, allowed the company to bypass regional shipping bottlenecks. President and CEO Amin Nasser stated that these assets enabled Aramco to sustain its production and export levels while continuing key projects despite regional challenges. Executive Vice President and CFO Ziad Al-Murshed attributed this operational flexibility to decades of long-term planning.
To avoid the Strait of Hormuz, Aramco successfully redirected its crude exports to the Red Sea port of Yanbu. However, this alternative route faced new challenges following threats from Houthi forces targeting Saudi-linked vessels in the Red Sea and the Bab el-Mandeb Strait, leading to an increase in dark tanker transits and further rerouting of shipments north toward Egypt and the Suez Canal.
