{
  "id": 117615,
  "title": "Saudi Aramco profits jump 33% in second quarter as Iran war squeezes oil supply",
  "url": "https://urgent.news/2026/08/04/saudi-aramco-profits-jump-33-in-second-quarter-as-iran-war-squeezes-117615",
  "topic": "world",
  "section": "World",
  "published": "2026-08-04T05:56:25.000Z",
  "source": {
    "name": "CNBC World",
    "slug": "cnbc-world",
    "url": "https://www.cnbc.com/2026/08/04/saudi-aramco-earnings-2q-oil-iran-war.html"
  },
  "original_language": "en",
  "account": "Saudi Aramco's second-quarter profit surged by 33% to $33.4 billion, following severe disruptions caused by the ongoing conflict in the Middle East. The world's largest oil company reported an adjusted net income of 125.2 billion Saudi riyal for the April to June period, surpassing analysts' expectations of $31.59 billion. The rise in profits is attributed to higher fossil fuel prices, driven by tensions between the U.S. and Iran. Amid the conflict, Aramco has utilized its 1,200-kilometer East-West pipeline to bypass the Strait of Hormuz, ensuring maximum export capacity of 7 million barrels per day. Aramco CEO Amin H. Nasser credited the company's diverse asset base and infrastructure for maintaining business continuity despite the challenging regional environment. Additionally, Aramco's board announced a second-quarter base dividend of $21.9 billion. The company's strong performance can be linked to the increase in prices of refined and chemical products and crude oil, though this was partially offset by a decline in the volume of crude oil and refined and chemical products sold. Meanwhile, U.S. President Donald Trump criticized major oil companies Exxon Mobil and Chevron for profiting from higher fuel prices, expressing his dissatisfaction with their earnings.",
  "summary": "The results come as oil supermajors have reported blowout quarterly profits, benefitting from higher fossil fuel prices amid the Iran war.",
  "key_points": [
    "Saudi Aramco's Q2 profit jumps 33% to $33.4 billion",
    "Conflict in Middle East disrupts oil supply severely",
    "CEO credits infrastructure for business continuity"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 5,
    "also_reported_by": [
      {
        "outlet": "The National UAE",
        "title": "Trump lashes out at Chevron and Exxon's soaring profits during Iran war",
        "url": "https://urgent.news/2026/08/03/trump-lashes-out-at-chevron-and-exxons-soaring-profits-during-iran-war",
        "published": "2026-08-03T21:06:31.000Z"
      },
      {
        "outlet": "Al Jazeera",
        "title": "US stocks near record high, oil falls as Trump claims Iran talks under way",
        "url": "https://urgent.news/2026/08/04/us-stocks-near-record-high-oil-falls-as-trump-claims-iran-talks-under",
        "published": "2026-08-04T02:56:26.000Z"
      },
      {
        "outlet": "CNBC",
        "title": "Saudi Aramco profits soar in second quarter as Iran war squeezes oil",
        "url": "https://urgent.news/2026/08/04/saudi-aramco-profits-soar-in-second-quarter-as-iran-war-squeezes-oil",
        "published": "2026-08-04T05:17:19.000Z"
      },
      {
        "outlet": "Sky News",
        "title": "Oil giant BP profits more than double due to Iran war - again",
        "url": "https://urgent.news/2026/08/04/oil-giant-bp-profits-more-than-double-due-to-iran-war-again",
        "published": "2026-08-04T05:34:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}