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Saudi Aramco Third-Quarter Profit Rises 9% Despite Iran War Attacks
Saudi Aramco's third-quarter profit rises 9% despite Iran war attacks on its facilities.
Key points
- Aramco posted a net profit of $3.25bn in the three months to September, compared with $26.9bn a year earlier.
- The US-Israeli war on Iran has reduced Aramco's output, but higher oil prices have offset this.
- Brent crude climbed $2.38 a barrel to $107.15 after the US reportedly launched limited strikes on Iran's Qeshm Island.
Why it matters. The results show higher oil prices offsetting war-related output losses at the world's top oil exporter, a development that bears on global energy supply and oil markets.
Saudi state oil company Saudi Aramco reported that profit rose 9% in the latest quarter despite attacks on its facilities. It posted a net profit of $3.25bn in the three months to September, against $26.9bn a year earlier, while Brent crude climbed to $107.15 a barrel that morning. Chief executive Amin H. Nasser said geopolitical uncertainty and attacks on key energy facilities continued to amplify the global energy supply crisis in the third quarter of 2026.
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Saudi Aramco Third-Quarter Profit Rises 9% Despite Iran War Attacks
Saudi Arabia's state-owned oil company posted a 9 percent increase in third-quarter profit on Tuesday, according to the New York Times. The Guardian's live business coverage reported that the Iran war reduced Aramco's output. Higher oil prices offset the lost production, supporting the earnings result. The results come as the Australian central bank also raised interest rates on the same day. The figures highlight how elevated crude prices are cushioning energy producers amid regional conflict.