Business · Energy & Commodities · 1 day ago
Aramco profit rises despite conflict, while Saudi economy faces pressure
Saudi oil company Aramco reported third-quarter net profit of 135.9 billion riyals, up from about 101 billion a year earlier.
Attacks by Yemen’s Houthis and the war with Iran have threatened its facilities and disrupted shipping through the Strait of Hormuz and Bab el-Mandeb.
Higher oil prices and a sale of its stake in a Malaysian joint venture helped lift the company’s results.
Aramco chief Amin Nasser warned that global oil stocks are dangerously low and could take up to two years to rebuild, even after Hormuz fully reopens.
The conflict is also weighing on Saudi Arabia’s wider economy, despite naval support from the United States that has helped keep oil exports moving through Hormuz.
Riyadh now expects a 2026 budget deficit of 245 billion riyals and an economic contraction of 3.6%, mainly because oil activity is falling.
The outlook for oil supplies and the kingdom’s economy remains tied to regional tensions and the reopening of the Strait of Hormuz.
Saudi oil giant Aramco reported third-quarter net profit of 135.9 billion riyals ($36.2 billion), up from about 101 billion riyals a year earlier.
Higher oil prices and a gain from selling its stake in a Malaysian joint venture helped lift profits despite conflict-related disruption.
Aramco chief Amin Nasser warned that global oil stocks were dangerously low and could take up to two years to rebuild.
Saudi Arabia’s economy remains under pressure from market instability and lower oil-sector activity.
The kingdom raised its 2026 budget-deficit forecast to 245 billion riyals and expects its economy to contract by 3.6%.
- Who
- Saudi oil company Aramco and the Saudi economy.
- What
- Aramco’s third-quarter profit rose, while Saudi Arabia’s economic outlook weakened.
- When
- In the third quarter of 2026. The article was published on November 7, 2026.
- Where
- Saudi Arabia, amid disruption to shipping through the Strait of Hormuz and Bab el-Mandeb.
- Why
- Higher oil prices and a gain from the sale of Aramco’s stake in a Malaysian joint venture boosted profits. Regional conflict and market volatility are pressuring the wider economy.
This story does not have two clearly opposing sides.
Aramco recorded net profit of about 101 billion riyals in the same quarter a year earlier.
Aramco recorded net profit of 135.9 billion riyals.
Riyadh raised its budget-deficit forecast to 245 billion riyals and projected a 3.6% economic contraction.
- Aramco third-quarter net profit
- 135.9 billion riyals ($36.2 billion)
- Year-earlier third-quarter net profit
- About 101 billion riyals
- Gain from stake sale
- 6.2 billion euros
- Saudi 2026 deficit forecast
- 245 billion riyals (58.2 billion euros)
- Saudi economic contraction forecast
- 3.6%
What people are saying
dangerously low
up to two years
As long as the Strait of Hormuz is not fully reopened and confidence is not restored, pressure will intensify both upstream and downstream.
remarkable resilience