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Saudi Aramco profits jump 25% as Iran war drives oil prices higher

EuroNews · · 436 words · By Doloresz Katanich
open_in_new Read the original article: https://www.euronews.com/business/2026/05/11/oil-giant-saudi-aramco-profits-jump…

fact_checkFact-Check Results

10 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

check_circle Corroborated 5
verified Verified 2
info Single Source 1
verified Verified By Reference 1
help Insufficient Evidence 1
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“Saudi Aramco said Q1 profit rose 25%”
CORROBORATED
Multiple independent web search results from news sources confirm that Saudi Aramco's first-quarter profit rose by 25% (or 25.5%).
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web search NEUTRAL — Saudi Aramco quarterly profit jumps 25.5% on higher oil prices. 14 hours ago.Saudi Aramco says net profit up more than 25 percent in first quarter.
https://news.google.com/stories/CAAqNggKIjBDQklTSGpvSmMzUnZj…
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web search NEUTRAL — Saudi Aramco’s first-quarter net profit rose 25% to 120 billion riyals ($32 billion), driven by higher revenue. Total first-quarter revenue reached 433.10 billion riyals, lifted by stronger prices and…
https://www.thenationalnews.com/business/2026/05/10/saudi-ar…
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web search NEUTRAL — Saudi Aramco reported a 25 per cent jump in first-quarter profit on Sunday, showing its resilience as US-Iran war tensions curtail Strait of Hormuz shipping, with the state oil giant's East-West crude…
https://www.bairdmaritime.com/offshore/drilling-production/a…
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“The company shifted some exports away from the Strait of Hormuz via its East-West Pipeline”
CORROBORATED
Multiple sources, including Bloomberg and a dedicated news report, confirm Aramco is redirecting exports via the East-West pipeline to bypass the Strait of Hormuz.
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web search NEUTRAL — The East-West Crude Oil Pipeline (left) with the UAE's Habshan–Fujairah oil pipeline. General information.The pipeline was built in the 1980s, "amid fears that the Iran-Iraq war would cut off shipping…
https://en.wikipedia.org/wiki/East–West_Crude_Oil_Pipeline
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web search NEUTRAL — Saudi Aramco’s boss warned of a long disruption to oil markets from the near closure of the Strait of Hormuz, while the company reported a jump in profit following higher prices and its ability to red…
https://www.bloomberg.com/news/articles/2026-05-10/aramco-pr…
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web search NEUTRAL — Aramco is utilising its East-West pipeline to its maximum 7 million barrels-a-day capacity to bypass the closed Strait of Hormuz, transporting more crude to the Red Sea. Profits have also jumped due t…
https://www.sentinelassam.com/more-news/business/saudi-aramc…
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“Saudi Aramco, the world's largest oil exporter, reported a 25% rise in first-quarter profit on Sunday, posting net income of $32.5bn (€27.6bn) for the three months up to 31 March”
CORROBORATED
Web search results specifically mention the 25% jump in profit and the net income of $32 billion (approx $32.5bn) for the first quarter.
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web search NEUTRAL — Saudi Arabia, [d] officially the Kingdom of Saudi Arabia (KSA), [e] is a country in West Asia. Located in the centre of the Middle East, it covers the bulk of the Arabian Peninsula and has a land area…
https://en.m.wikipedia.org/wiki/Saudi_Arabia
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web search NEUTRAL — Exceptional experiences with Saudia Explore the world, earn rewards and live the best adventures with Saudia.
https://www.saudia.com/
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web search NEUTRAL — 3 days ago · A refusal by Saudi Arabia to allow the US to use its bases and airspace to provide a military escort for oil tankers passing through the strait of Hormuz lay behind Donald Trump’s decisio…
https://www.theguardian.com/world/2026/may/07/trump-project-…
verified
“Its board also approved a quarterly dividend of $21.9bn (€18.6bn).”
VERIFIED
The claim is directly confirmed by a cross-reference from CNBC stating the board approved a base dividend of $21.9 billion.
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web search NEUTRAL — Saudi Arabia, [d] officially the Kingdom of Saudi Arabia (KSA), [e] is a country in West Asia. Located in the centre of the Middle East, it covers the bulk of the Arabian Peninsula and has a land area…
https://en.m.wikipedia.org/wiki/Saudi_Arabia
travel_explore
web search NEUTRAL — Exceptional experiences with Saudia Explore the world, earn rewards and live the best adventures with Saudia.
https://www.saudia.com/
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web search NEUTRAL — 3 days ago · A refusal by Saudi Arabia to allow the US to use its bases and airspace to provide a military escort for oil tankers passing through the strait of Hormuz lay behind Donald Trump’s decisio…
https://www.theguardian.com/world/2026/may/07/trump-project-…
+ 1 more evidence source
info
“Brent crude, the international benchmark, traded above $103 a barrel on Monday morning.”
SINGLE SOURCE
While web search results provide general information about Brent Crude and price charts, none of the provided evidence snippets confirm the specific price of $103 on the Monday morning in question.
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web search NEUTRAL — Brent Crude An oil platform in the North Sea Brent Crude is the trading classification for the types of petroleum— sweet crude oil and light crude oil —first extracted from the Brent oilfield in the N…
https://en.wikipedia.org/wiki/Brent_Crude
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web search NEUTRAL — Oil Price (Brent Crude and WTI) The price of oil is the most important value on international commodity markets since crude oil is the most important commodity. Emerging industrial markets such as ...
https://markets.businessinsider.com/commodities/oil-price
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web search NEUTRAL — Oilprices from around the world. Oil Price Charts Oilprice.com offers real-time oil prices for over 150 global crude blends and indexes, with live charts, comparisons, and smart analytical tools ...
https://oilprice.com/oil-price-charts/46
verified
“Before the war, around 20% of globally traded oil flowed through the strait each day”
VERIFIED BY REFERENCE
The 'Hormuz Strait Monitor' explicitly states that the strait controls 20% of the world's oil supply.
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web search NEUTRAL — Global oil trade. Diagram showing 2024 daily average of LNG transported through the strait[30][better source needed]. The strait is 34 kilometres (21 mi) wide at its narrowest point, forming a seaway …
https://en.wikipedia.org/wiki/2026_Strait_of_Hormuz_crisis
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web search NEUTRAL — How much oil passes through the Strait of Hormuz daily?Who controls the Strait of Hormuz? The Strait is bordered by Iran to the north and Oman's Musandam Governorate to the south.
https://geopolitical-intel.com/explainers/strait-of-hormuz-g…
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web search NEUTRAL — Understand why the Strait of Hormuz controls 20% of the world's oil supply. Learn how oil prices, shipping routes, and global energy security are affected when the strait is disrupted.
https://hormuzstraitmonitor.com/oil-explained/
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“Iran effectively took control of the waterway after the US and Israel launched attacks on 28 February”
CORROBORATED
Confirmed by Al Jazeera cross-reference and supported by context in other web results regarding the disruption of the waterway following attacks on February 28.
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web search NEUTRAL — With a population of over 92 million, Iran ranks 17th globally in both geographic size and population. It is divided into five regions with 31 provinces. Capital city Tehran is the nation's largest ci…
https://en.m.wikipedia.org/wiki/Iran
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web search NEUTRAL — 3 days ago · Iran's foreign ministry said Monday it had called for an end to the war across the region and the release of frozen Iranian assets abroad in its response to the latest U.S. peace proposal…
https://www.cbsnews.com/live-updates/iran-war-trump-us-attac…
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web search NEUTRAL — 9 hours ago · Stay on top of Iran latest developments on the ground with Al Jazeera’s fact-based news, exclusive video footage, photos and updated maps.
https://www.aljazeera.com/where/iran/
+ 1 more evidence source
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“a US naval blockade imposed last month further complicated shipping through the area.”
CORROBORATED
Multiple web search results (including references to NY Times and other reports) confirm a US naval blockade was imposed approximately a month prior to the reports.
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web search NEUTRAL — The US naval blockade of Iranian ports marked a shift from financial sanctions to direct physical interdiction. Tensions ignited when Iran disrupted shipping in the Strait of Hormuz, prompting the US …
https://gulfnews.com/world/mena/counterstrike-us-tightens-ir…
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web search NEUTRAL — After the blockade was imposed about a month ago, President Donald Trump and top administration officials suggested it would spark an immediate crisis for Iran’s oil sector.
https://www.nbcnews.com/world/iran/iran-withstand-us-blockad…
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web search NEUTRAL — According to new reporting in the NY Times: The blockade has halted Iran’s oil exports, choking off crucial revenues, and the country risks running out of places to store its oil.
https://oilprice.com/Energy/Energy-General/Irans-Oil-Industr…
verified
“The pipeline is currently operating at its maximum capacity of 7 million barrels per day.”
VERIFIED
Directly confirmed by a cross-reference from The Guardian stating the pipeline's maximum capacity is 7 million barrels per day.
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cross reference SUPPORTS — Our east-west pipeline, which reached its maximum capacity of 7m barrels of oil per day
https://www.theguardian.com/business/2026/may/10/saudi-aramc…
help
“Aramco produced 11.1 million barrels of oil per day in the fourth quarter of 2025.”
INSUFFICIENT EVIDENCE
No evidence was found in the provided search results to support or refute the production numbers for Q4 2025.
info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.