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Saudi Aramco profit jumps despite war disrupting shipping routes
Saudi Aramco posted a 25% quarterly profit increase to $32.5 billion for the three months ended March 31, aided by higher prices and rerouting via the East-West pipeline that bypasses the Strait of Hormuz. The pipeline reached its maximum capacity of 7 million barrels per day during the quarter, supplying refineries and reducing reliance on tanker routes disrupted by the conflict. Market context remained unsettled as oil prices and hopes for reopening Hormuz influenced energy sentiment.
Why It Matters
Aramco is a leading global oil exporter, and its earnings illustrate how major producers adapt to shipping-route disruptions and price volatility in a tense regional environment.
Timeline
4 Events
Publication of article detailing Aramco profits and pipeline strategy
May 10, 2026
The article reports Aramco's quarterly profit rise to $32.5 billion for the three months ended March 31, noting increased exports via the East-West pipeline bypassing Hormuz and the pipeline’s role in supporting regional refineries and supply.
Oil futures react to ongoing conflict and Hormuz uncertainties
May 9, 2026
Oil futures ended last week with losses as a U.S. proposal keeps hopes alive for an end to the war with Iran and the eventual reopening of the Hormuz strait.
Aramco quarterly results and East-West pipeline milestone
March 31, 2026
Saudi Aramco reports net profit of $32.5 billion for the three months ending March 31, up from $26 billion a year earlier (a 25% increase). The East-West pipeline reaches its maximum capacity of 7 million barrels per day during the quarter, and about 2 million barrels per day of the pipeline’s capacity feeds refineries on Saudi Arabia’s west coast.
War begins and Hormuz disruption cited
February 28, 2026
The article notes that oil prices have risen since Iran effectively closed the Strait of Hormuz after the start of the war with the U.S. and its allies in the region on February 28, 2026.