Saudi Aramco’s earnings exceeded forecasts as regional tensions tightened crude supply in the second quarter.
Saudi Aramco reported a second-quarter adjusted net income of $33.4 billion, up from analyst expectations of $31.59 billion. The gain follows disruptions in the Strait of Hormuz amid escalating Middle East conflict, restricting oil flows.
The $33.4 billion profit compares with 125.2 billion Saudi riyal in the same period. Analysts had anticipated a lower figure, reflecting concerns over supply chain bottlenecks and geopolitical risks.
Markets are monitoring the impact on crude prices as regional instability persists.