Aramco Q1 Profit Jumps 25% as Hormuz Risks Push Pipeline to Full Capacity
Source: US News & World Report/Reuters
May 10, 2026, at 1:22 a.m.
DUBAI, May 10 (Reuters) - Saudi Aramco reported a 25% jump in first-quarter profit on Sunday, showing its resilience as U.S.-Iran war tensions curtail Strait of Hormuz shipping, with the state oil giant's East-West crude pipeline running at full capacity to mitigate the impact to supplies.
The world's top oil exporter earned a net profit of $32.5 billion in the three months ended March 31, beating an LSEG consensus estimate of $30.95 billion.
Total revenue surged nearly 7% from a year earlier to $115.49 billion due to higher prices and volumes sold of both crude oil and refined and chemical products.
Iran's blockade of shipping through the crucial Hormuz waterway amid the U.S.-Israeli conflict - which has curtailed energy supply and sent prices surging - prompted Aramco to ramp up crude flows from its east coast to the Red Sea port of Yanbu.
Read more: https://money.usnews.com/investing/news/articles/2026-05-10/aramco-q1-profit-jumps-25-as-hormuz-risks-push-pipeline-to-full-capacity
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