Saudi Aramco announced that its adjusted net profit for the second quarter was $33.4 billion, exceeding analysts' expectations of $31.59 billion. Although crude oil sales and production declined during the quarter, the average price of crude oil surged to approximately $108 per barrel, driven by the Iran War, an increase of over 60% compared to the average price of $67 per barrel in the same period last year.

Amin H. Nasser, the company's President and CEO, stated that the conflict "continues to exacerbate the largest supply shock in history," estimating that over 2.6 billion barrels of oil required by global industries have been removed from supply, and that rebuilding global inventories would take up to 18 months even if the Strait of Hormuz were to reopen immediately. Saudi Aramco maintained its export volume at the upper limit of 7 million barrels per day through its East-West pipelines, despite the effective closure of the Strait of Hormuz. The company's facilities were attacked by Iranian-backed Houthi militants in late July, but Saudi Aramco stated that these attacks had no material impact on its financial condition, operations, or cash flow.