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News in English (USA) / 31.07.2026 / 17:00

Major Oil Companies Report Record Profits Amid US-Iran Conflict

In recent earnings reports, major oil companies such as ExxonMobil and Chevron have announced massive profits, largely attributed to rising oil prices fueled by the ongoing conflict between the US and Iran. ExxonMobil reported a staggering $160 million in profit per day over the last quarter, with combined profits for both companies quadrupling as oil prices surged past $112 per barrel. The instability in the region has led to significant disruptions in energy markets, benefiting these oil titans while drawing criticism from political figures and consumers alike over skyrocketing gas prices. Despite threats of price interventions from former President Trump, energy executives continue to capitalize on the turmoil, steering their windfall profits towards debt reduction and operational expansions.
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