SEATTLE (Oil Monster): Saudi Aramco reported a notable jump in first-quarter 2026 earnings despite disruptions caused by the closure of the Strait of Hormuz- the strategic passage connecting the Persian Gulf to the open ocean.
The Saudi energy giant posted net income of US$32.5 billion for the quarter ended March 31, 2026, recording a jump of 25% from the corresponding quarter a year before. The company reported growth in profit despite the removal of approximately one million barrels of oil from global markets on account of the closure of the Strait of Hormuz since late February this year.
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Aramco relied heavily on its East-West Pipeline, which transports crude from eastern production fields to the Red Sea port of Yanbu. The pipeline operated at its maximum capacity of seven million barrels per day during the quarter. This helped the company to ensure continued supplies to its customers.
The Brent crude oil prices recorded a nearly 40% surge when compared with the pre-conflict levels. The sky-high crude prices helped the company to offset reduced export volumes, which also contributed to its strong financial performance during Q1 this year.
Aramco President and CEO Amin Nasser highlighted the strategic importance of the East-West Pipeline. The pipeline served as a critical supply artery during the global energy shock, he noted.
