1 August 2026 at 7:30 am
Summary
Chevron reported its largest quarterly net profit ever at $12.1 billion, while ExxonMobil's income surged to $14.5 billion, as major oil companies benefit from disruptions caused by the Iran war. These profits are driven by higher crude oil prices, record refining margins, and petrochemical gains, with executives not expecting significant long-term demand reduction.
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