Big Oil Is Raking in Billions From the Iran War
4 Articles
4 Articles
View: Big Oil’s risky profit spike
Big Oil will be back in the hot seat this week, as companies post what are expected to be bumper second-quarter profits driven by the war in Iran.What’s good for consumers is bad for oil investors: Share prices for Chevron and ExxonMobil ticked down over the past couple of days in tandem with a modest fall in oil prices. Still, both companies’ stock is up nearly 40% in the past year, as they ride the swell of an unprecedented energy crisis. Thei…
Big Oil Is Raking in Billions From the Iran War
Wall Street Journal: "Thanks to U.S. crude prices averaging $95 a barrel between March and June—up from about $66 before the Iran war—ExxonMobil, Chevron, ConocoPhillips and Occidental Petroleum are expected to collectively rake in some $31 billion in earnings for the second quarter of the year,
The world's largest oil companies are heading to close 2026 with a multimillion-dollar cash surplus thanks to the upturn in the price of crude oil, although that financial strengthening has not resulted in an increase in investment or an acceleration of buy-backs of their shares.See more: The TACO model seems to be right: Trump stopped attacks on Iran in the time he calculated Wood Mackenzie's mid-year review shows that companies maintain capita…
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