Overview
- Aramco reported adjusted second‑quarter net income of 125.2 billion riyals (about $33.4 billion), a roughly 33% increase year‑on‑year.
- Realised crude prices averaged $108.10 a barrel in the quarter, a sharp rise from $66.70 a year earlier that boosted revenue despite lower volumes.
- Hydrocarbon production fell to about 9.46 million barrels of oil equivalent per day from 12.61 million in Q1 after disruptions and closures affecting the Strait of Hormuz.
- The company said it ran its 1,200 km East‑West pipeline to move crude to Red Sea terminals and maintained export capacity near 7 million barrels per day to sustain shipments.
- Aramco warned that Houthi attacks and renewed U.S.–Iran exchanges are keeping freight and war‑risk insurance costs elevated and leaving global oil supply and prices exposed to further shocks.