What was Aramco's Q1 2024 net profit, and how does it compare to analyst expectations?

Aramco reported a Q1 2024 net profit of $32.5 billion, which beat the LSEG consensus estimate of $30.95 billion. Its adjusted quarterly net profit was $33.6 billion, also exceeding the company-provided median analyst estimate of $31.16 billion.

Why did Aramco run its East-West Pipeline at full capacity in Q1 2024, and what is its maximum capacity?

Aramco ran its East-West Pipeline at full capacity — 7.0 million barrels per day — to mitigate supply disruptions caused by Iran's blockade of shipping through the Strait of Hormuz amid U.S.-Israeli conflict tensions; CEO Amin Nasser stated the pipeline served as a 'critical supply artery' during the global energy shock.

Aramco Q1 Profit Jumps 25% as Hormuz Risks Push Pipeline to Full Capacity

May 9, 2026

Saudi Aramco reported a 25% jump in Q1 profit to $32.5 billion, driven by higher prices and volumes amid U.S.-Iran tensions. The state oil giant utilized its East-West pipeline at full capacity to mitigate shipping disruptions through the Strait of Hormuz.

reuters

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