Saudi oil giant Aramco announced today that its net profit rose by 44% in the second quarter of 2026 compared with the same period last year, thanks to higher crude oil prices amid the ongoing war in the Middle East.

Aramco, one of the world’s most valuable publicly traded companies and the cornerstone of Saudi Arabia’s economy, reported net income of 122.6 billion Saudi riyals ($32.7 billion) for the second quarter of 2026, compared with 85 billion riyals ($22.67 billion) during the same period in 2025.