Saudi Aramco just reminded everyone why oil remains the world’s most consequential commodity. The company reported Q2 2026 net profit of $32.69 billion, a 44% surge from $22.67 billion in the same quarter last year, driven almost entirely by crude prices that climbed on the back of supply disruptions tied to the ongoing Iran conflict.
The earnings, released on August 4, landed well above what analysts had penciled in. Adjusted figures showed a 33% year-on-year increase, beating consensus estimates and reinforcing Aramco’s position as the most profitable energy company on the planet.
The numbers behind the surge
Aramco’s half-year adjusted net income hit $67.2 billion, signaling that the first six months of 2026 have been exceptionally kind to the Saudi state oil giant.
Higher prices for both crude oil and chemical products contributed to the bottom line.
