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00:02Saudi Aramco reported a 26% year-over-year increase in first-quarter profit
00:07that beat analyst estimates as its east-west pipeline reached full capacity during the
00:13Strait of Hormuz disruption. First-quarter adjusted net income came in at $33.6 billion,
00:19up from $26.6 billion a year earlier, and above analyst estimates of $31.2 billion.
00:25Profit increased 34% from the prior quarter's $25.1 billion.
00:31CEO Amin Nasser said the pipeline reached its maximum capacity of 7 million barrels per day
00:38and helped reduce the impact of global energy disruptions.
00:42Iran's blockade of the Strait of Hormuz has removed nearly 1 billion barrels of oil from
00:46global markets. Brent crude rose 95% during the first quarter and is up 67% year-to-date.
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