Oil companies swam in record profits over the last few months at a time when Americans struggled to pay for gasoline, food, and other basic necessities. On Friday, Exxon Mobil booked an unprecedented $17.85 billion profit for the second quarter and Chevron made a record $11.62 billion. The sky-high profits come one day after the U.K.’s Shell shattered its own profit record. Soaring energy prices have rattled consumers and become a political flash point.
Unprecedented Profit For Major Oil Drillers As Prices Soared
CATHY BUSSEWITZ / AP, Time: Business
Fri, 07/29/2022 - 8:22am
Topics: u s shell soaring president joe biden god consumers two-thirds andrew gross aaa high gas prices are discouraging americans from buying cars right now ldquo;they irving natural russia s u u s inflation surging factset shares corp it could be long time before gas prices come down exxon ceo darren woods ldquo;given gasoline u beaumont refinery u exxonmobil recession actually is&mdash know if u is entering one golden pass port arthur ldquo;bringing russian climate gulf coast lng exxon exxon mobil u inflation americans read texas europe time woods permian basin lng gulf coast permian unprecedented profit major oil energy increase quarter billion year friday chevron driving record expectations exceeding supplies company analyst including investments globally rose day earned expanding production liquefied plans fuel exports costs changing export capacity
BING NEWS:
- Oil Prices Stabilize as Geopolitical Risk Cools
Oil prices appear to have stabilized somewhat after tensions between Iran and Israel cooled, although there are still plenty of potential catalysts that could send prices climbing again.
04/22/2024 - 7:23 pm | View Link - Oil Prices Start the Week Lower as Fears of a War Between Israel and Iran Fade
Oil prices began the week with a loss as traders appear to be less worried about a direct war between Israel and Iran, with Brent falling below $87 and WTI below $83.
04/21/2024 - 7:20 pm | View Link - Oil prices in weekly loss as prospect of Iran-Israel escalation cools
Investing.com-- Oil prices fell to weekly loss despite settling higher in volatile trade Friday as investors cooled bets on a wider Middle East conflict after Isreal launched measured attacks on Iran ...
04/19/2024 - 7:43 am | View Link - More
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