United States · Business news · Corporate · 31 Jul 2026
US Energy
ExxonMobil's second-quarter net earnings rose 105.1% from a year earlier to $14.5 billion, from $7.1 billion. Chevron's rose 384.8% to $12.1 billion, a quarterly record, from $2.5 billion. Chevron's worldwide oil-equivalent production was up 20%, helped by assets bought with Hess and by growth in the Permian Basin. The average Brent price cited in Chevron's results was $104 a barrel, against $68 a year before. Chevron pointed to higher commodity prices and stronger refined-product margins.
The two largest US oil companies show how the Hormuz disruption passed through the Energy sector: higher crude prices lifted production earnings and wider margins lifted refining earnings at the same time. Other US producers and refiners sell into the same prices, and oilfield service companies depend on how producers spend the extra cash. The other side of these profits is the fuel bill carried by airlines, shippers, chemical makers and households.
Reported by Anadolu Agency — “ExxonMobil, Chevron profits soar amid Middle East energy disruption” ↗ on 31 Jul 2026.
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