Wedoany.com Report-Nov. 4, Saudi Aramco reported a surprise rise in third-quarter 2025 profit as higher production offset lower crude prices, ending a multi-year streak of declining earnings. Adjusted net income increased about 1 percent to 104.9 billion riyals ($28 billion) from a year earlier, exceeding analyst expectations compiled by Bloomberg. Free cash flow surpassed the dividend payout for the first time in roughly two years, and net debt declined compared with the prior quarter.

Aramco posted a surprise increase in third-quarter profit as a production boost helped mitigate the impact of lower crude prices and helped the oil giant break a yearslong streak of falling earnings.

The results follow a period of lower quarterly profits for Aramco in recent years. The company raised output under OPEC+ policy, helping counter muted crude prices. As the world’s largest oil exporter, Aramco plays a central role in Saudi Arabia’s economy, with revenue from oil sales and substantial dividend payments supporting the kingdom’s multi-trillion-dollar economic plans.

Global oil prices have dropped about 13 percent this year to roughly $65 per barrel in London, below the $90 per barrel the IMF estimates Saudi Arabia needs to balance its budget. This has slowed certain major infrastructure and tourism projects domestically, and Aramco has paused some refining and chemical projects while focusing on a large natural gas development.

During the third quarter, Aramco sold crude at around $70 per barrel, down from nearly $79 a year earlier. Despite lower prices, liquids production rose 3.8 percent to 10.8 million barrels per day, and natural gas output grew 5 percent.

CFO Ziad Al-Murshed said: “Our ability to quickly ramp-up production and capture rising demand drove our strong third quarter performance.”

Free cash flow for the period increased to $23.6 billion, sufficient to cover the total dividend payout of $21.4 billion. The gearing ratio improved to 6.3 percent as of September 30, down from 6.5 percent in the prior quarter.

The production increase has helped Aramco maintain financial stability despite lower crude prices, demonstrating operational flexibility and strong cash generation. The company continues to balance output and investment, supporting both domestic energy projects and its commitments to global markets.

By raising production while keeping costs under control, Aramco has positioned itself to navigate price volatility and support Saudi Arabia’s broader economic objectives. The company’s performance highlights its role in stabilizing national revenue and maintaining strong dividend payments, even amid fluctuating market conditions.

Overall, Aramco’s third-quarter results signal resilience in earnings and cash flow, underpinned by strategic production adjustments and disciplined financial management, reinforcing its key role in the kingdom’s economy.