$48 billion profit! 5 global oil majors cash in on oil surge amid Iran war. Where is money flowing?
- Posted on August 10, 2026
- By Business News Today
- 0 Views
- 1 min read
In brief
Generating AI summary…
$48 billion profit! 5 global oil majors cash in on oil surge amid Iran war. Where is money flowing?
Five global oil majors — Exxon Mobil, Chevron, BP, Shell and TotalEnergies — posted a combined $48 billion profit in Q2, benefiting from oil prices surging above $100 a barrel amid US-Iran hostilities. Their combined cash generation hit a record $90 billion, surpassing levels seen after Russias 2022 invasion of Ukraine. The bumper profits also drew criticism from US President Donald Trump over high fuel prices.
