Saudi Aramco's net profit jumps 44% as oil prices rise

Saudi Arabia's state-owned energy giant Saudi Aramco posted a 44 per cent year-on-year increase in net profit for the second quarter of 2026, buoyed by higher oil prices amid the US-Israeli war against Iran.

According to a statement published on the company's website, Saudi Aramco reported a net profit of $32.69 billion for the April–June period, compared with $22.67 billion in the second quarter of 2025.

The world's largest oil company increased its quarterly net profit by more than $10 billion, with the rise attributed to higher crude oil prices during the reporting period.

By Aghakazim Guliyev