What is the reported reduction in global oil supply over the past two months, and who announced this figure?

According to the news, Saudi Aramco's President and CEO Amin Nasser stated on the 10th that global oil supply has been reduced by approximately 1 billion barrels over the past two months.

How did the conflict-related energy price volatility affect Saudi Aramco's first-quarter net profit, and what was the exact figure?

Due to energy price fluctuations caused by the conflict, Saudi Aramco's first-quarter net profit reached $33.6 billion, representing a roughly 26% year-on-year increase.

Global Oil Supply Reduced by ~1 Billion Barrels in Two Months

May 11, 2026

Saudi Aramco CEO Amin Nasser reported a global oil supply reduction of approximately 1 billion barrels over the past two months. Q1 net profit rose 26% to $33.6 billion, supported by enhanced pipeline capacity ensuring stable exports amid geopolitical tensions.

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