Oil Surge Lifts Exxon and Chevron Profits Amid Middle East Turmoil
TL;DR
ExxonMobil and Chevron posted strong Q2 results as higher oil prices and Middle East disruption lifted profits; Chevron reported net income of $12B and adjusted EPS of $6.06, beating estimates, while Exxon earned about $14.5B with adjusted EPS of $3.52, missing by 8 cents due to refining-market volatility; both posted significant gains in upstream and refining segments, with production up and crude prices averaging around $92/bbl in Q2.
- Exxon and Chevron profits surge on rising oil prices due to Iran war CNBC
- Oil companies report sky-high profits thanks to wartime crude prices NPR
- Big Oil Is Reaping Rewards From the Chaos in Energy Markets WSJ
- Exxon, Chevron warn of continued high fuel prices from Iran war Reuters
- Iran War Drives Oil Profits to Highest Levels in Years The New York Times
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