10 August 2026 at 10:18 pm
Summary
Five major global oil companies — Exxon Mobil, Chevron, BP, Shell, and TotalEnergies — reported a combined $48 billion profit in Q2, driven by oil prices exceeding $100 a barrel amidst US-Iran tensions. Their cash generation reached a record $90 billion, surpassing levels seen after Russia's 2022 invasion of Ukraine, drawing criticism from US President Donald Trump over high fuel prices.
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