Countries Earning Billions from Oil Price Surge Due to US-Iran Conflict
The global economy is facing a difficult time because of the conflict between the US and Iran in West Asia. While many are worried, some countries are making a lot of money. These nations are seeing a big jump in their earnings. This is happening because of the oil price surge and the high demand for energy like natural gas.
Countries that had slow growth before are now seeing their revenues rise quickly. Some are selling more oil, while others are providing gas to countries that need it. Here is a look at the countries turning this global crisis into an economic win.
Norway Becomes a Key Energy Partner
Norway is gaining a lot of money right now. Many countries in Europe and Asia are looking for new places to buy energy. They are afraid that the conflict in West Asia will stop their usual supplies. Norway now provides about 30 percent of all natural gas that Europe imports.
In 2025, Norway exported almost 1.5 million barrels of crude oil every day. Their gas exports to Europe were also very high at 115 billion cubic metres. This high demand has helped Norway’s economy grow much stronger.
Saudi Arabia Sees Huge Oil Profits
Saudi Arabia is seeing its oil money grow very fast. This is because the price of Brent crude oil went up. Earlier this year, the price was below USD 70 per barrel. Now, it has climbed above USD 114 per barrel.
Saudi Arabia exports between 6 million and 7 million barrels of oil every day. When the price goes up by just USD 10, the country earns tens of billions of dollars more. The company Saudi Aramco can produce nearly 12 million barrels every day. This helps the country stay ahead during global supply problems.
Russia Increases Energy Income
Russia is also earning much more money from energy. Higher oil prices have helped the country’s tax collection. In April 2026, oil tax revenue went from USD 4.2 billion to nearly USD 9 billion in just one month. This is a very big jump.
Russia’s earnings from fossil fuels are at their highest level in two years. Experts say that big companies like Gazprom, Rosneft, and Lukoil could make billions of dollars in extra profits. This is all because of the oil price surge linked to the conflict.
Guyana: One of the Fastest Growing Economies
Guyana is a great example of a country changing quickly. It only started producing oil a few years ago. Before the tension in the Middle East, Guyana earned about USD 370 million every week from oil. Now, that amount has gone up to USD 623 million per week.
This is an increase of nearly 68 percent. Because of this, Guyana has been growing at a rate of 40 percent every year since 2020. It is now one of the fastest-growing economies in the entire world.
Comparison of Energy Impact by Country
The following table shows how different countries are benefiting from the current energy situation:
| Country | Key Fact or Revenue Change | Energy Export Details |
|---|---|---|
| Norway | Supplies 30% of Europe’s natural gas | 1.5 million barrels of oil per day; 115 billion cubic metres of gas |
| Saudi Arabia | Brent crude price rose from $114 | Exports 6-7 million barrels per day; 12 million barrel capacity |
| Russia | Tax revenue rose from $4.2B to $9B in one month | Highest fossil fuel earnings in two years; Gazprom and Lukoil profits |
| Guyana | Weekly oil revenue rose from $370M to $623M | 68% increase in weekly revenue; 40% annual growth since 2020 |
Conclusion
The US-Iran conflict has caused a major oil price surge across the globe. While this creates challenges for many, countries like Norway, Saudi Arabia, Russia, and Guyana are seeing record-breaking profits. These nations are using their natural resources to fill the gap in the global market. As long as energy prices stay high, these countries will likely continue to see massive economic growth.
FAQs
Which country provides 30% of Europe’s natural gas?
Norway is currently the country that supplies about 30 percent of the natural gas imported by Europe.
How much did the price of Brent crude oil increase?
The price of Brent crude oil rose from below USD 70 per barrel to over USD 114 per barrel during the conflict.
How much is Guyana earning from oil every week?
Guyana is now earning about USD 623 million per week from oil exports, which is a 68 percent increase from its previous earnings of USD 370 million.
Which Russian companies are expected to make billions in extra profit?
Major Russian energy companies like Gazprom, Rosneft, and Lukoil are expected to earn billions in extra profits due to the oil price surge.