The Strait Is Closed. The Pipeline Is Full. And Aramco Just Posted Its Best Quarter In Years.
This article was compiled and made possible with the help of the following sources: CBS42, USNews, CNBC, Business Standard, TradingView, Kanebridge News, MSN and TheNational.
When the world’s most important oil chokepoint closes, the world’s largest oil company finds another way. And in Q1 2026, that other way made Aramco extraordinarily wealthy.
The oil giant reported adjusted net income of $33.6 billion for the first quarter of 2026, up 26 percent year on year and 34 percent quarter on quarter, beating analyst forecasts that had projected $29 billion.
The driver was twofold. Brent crude rose more than 43 percent in March alone as Iran effectively closed the Strait of Hormuz following US and Israeli strikes. Aramco sold crude at $76.90 per barrel during Q1, up from $64.10 in Q4 2025.
Brent crude peaked at $126 per barrel during the war, up from roughly $60 at the start of the year, before settling near $101 by the time Aramco reported results.
The second driver was infrastructure. Aramco’s East-West Pipeline, which runs across Saudi Arabia from its eastern oil fields to Red Sea ports at Yanbu, reached its maximum capacity of seven million barrels per day during the first quarter. CEO Amin Nasser described it as a critical supply artery that mitigated the global energy shock and provided relief to customers affected by shipping constraints in the Strait of Hormuz.
The market had lost approximately one billion barrels of oil supply since late February. Aramco’s pipeline helped partially fill the gap while the rest of the world scrambled.
Total Q1 revenue reached 433.10 billion riyals, lifted by stronger prices and sales volumes across crude, refined and chemical products.
War is terrible. However, it has been very good for Aramco’s quarterly results. Like this finance-oriented article? Read our previous article here.
