Aramco Profit Jumps 34.6 Percent as Conflict Pushes Oil Prices Higher

Saudi Arabia's state oil company Saudi Aramco has posted a significant rise in profit as crude oil prices climbed in world markets under the impact of the ongoing Middle East conflict. In the third quarter of 2026 (July-September), the company's net profit rose 34.6 percent compared with the same period a year earlier.

According to an AFP report, Aramco's financial report published on Tuesday said the company's net profit in July-September this year stood at 135.9 billion Saudi riyals, equal to about 36.2 billion US dollars. In the same quarter of 2025, the company's profit was about 101 billion riyals. In other words, profit has jumped sharply within a year.

The Middle East conflict has disrupted the international energy supply system. As a result, oil and gas prices have risen in world markets. Profits have also increased in the energy refining sector. This has had a positive effect on the earnings of the world's big energy companies. High oil prices in international markets also played an important role in Aramco's profit growth.

Since a fresh conflict began last July, Iran-backed Houthi rebels in Yemen have been regularly attacking Saudi Arabia's oil tankers, pipelines, oil storage facilities and refineries. The scale of these attacks has increased further in recent weeks. This has raised concern over the security of Saudi Arabia's energy infrastructure and export operations.

In addition, Houthi and Iranian activity is obstructing shipping through the Bab al-Mandeb and the Strait of Hormuz. Instability on these two sea routes, which are vital for international energy transport, has also put Saudi Arabia's oil exports in difficulty.

Aramco President and Chief Executive Officer Amin H. Nasser said the ongoing conflict is seriously affecting energy security worldwide. In a statement he said: 'In the third quarter of 2026, geopolitical uncertainty and attacks on important energy installations intensified the global energy supply crisis.'

In analysts' view, supply uncertainty caused by the conflict and high oil prices in international markets are affecting the earnings of energy-producing companies. But the same situation is also increasing risks in energy transport and supply. Aramco's profit growth therefore shows the benefit of a high-price market on one side, and on the other brings forward the pressure created in the global energy sector by Middle East instability.