Saudi oil giant Aramco sees 25% jump in Q1 profit after shifting exports from Strait of Hormuz

Aramco, the world’s largest oil company, said Sunday its first quarter profit jumped 25% as the Iran war disrupted oil supplies and raised prices.

Dhahran, Saudi Arabia-based Aramco said it successfully shifted some oil exports to a pipeline to avoid the Strait of Hormuz, which has been disrupted by the war.

On Sunday, the price of Brent crude, the international standard, rose 2.58% to to $103.91 per barrel. That’s below its heights above $119 during the war, but it’s still much more expensive than its roughly $70 level from late February before the fighting began.

Aramco President and CEO Amin Nasser said the company’s East-West Pipeline, which runs across Saudi Arabia from its Eastern oil fields to the Red Sea, is now operating at its maximum capacity of 7 million barrels of oil per day. Nasser said the pipeline is “helping to mitigate the impact of a global energy shock and providing relief to customers.”

Still, that’s only a fraction of Aramco’s typical production. Aramco produced 11.1 million barrels of oil per day in the fourth quarter of 2025, for example.

Aramco reported a profit of $32.5 billion for the quarter ending March 31, up 25% from the same period a year ago. The state-owned company reported a 12% decline in annual profits...