Big Oil Profits Soar Due To Iran War

What happened

The outlets' own sentences, most widely reported first. Hover or tap one to see who reported it.

Analysis

How it changed

1. 30 Oct

   ExxonMobil reported a profit that doubled from the same period last year, while Chevron’s earnings surged more than 180% from a year earlier.

   6 outlets · NBC News
2. 31 Oct

   The US oil industry has earned almost $130 billion in profits since the US and Israel began bombing Iran in February.

   2 outlets · Mother Jones
3. 2 Nov

   Americans have spent an extra $150bn on petrol and diesel since the war on Iran began on February 28, according to an analysis by Brown University’s Climate Solutions Lab, which amounts to more than $1,150 per household.

   2 outlets · Al Jazeera

Coverage 7 articles

• 2 Nov How US oil firms profit $130bn from Iran war as household bills surgeUS oil firms have earned over $130 billion in profits since the start of the war on Iran in February, according to The New York Times. This profit surge contrasts with a period of lower prices in 2025 when these companies made less than $47 billion. Despite the significant gains for oil companies like ExxonMobil and Chevron, American households have spent an additional $150 billion on fuel, amounting to over $1,150…Al Jazeera
• 31 Oct Trump’s Iran War Brings On Record Oil Company ProfitsSince the US and Israel began bombing Iran in February, major US oil companies have reported record profits of nearly $130 billion. This is significantly higher than the approximately $47 billion earned by these companies during the same period in 2025 when oil prices were lower. Companies like ExxonMobil and Chevron saw their profits more than double, with ExxonMobil's profits doubling and Chevron’s increasing by…Mother Jones
• 31 Oct Oil company earnings skyrocket — againOil companies recently reported significant earnings increases: ExxonMobil earned $15.4 billion, Shell earned $10.8 billion, and Chevron's profits were up to $9.9 billion this quarter, more than doubling compared to the same period last year. The surge in earnings is attributed mainly to disruptions caused by the war in Ukraine, leading to higher global oil prices—Brent crude now trades around $113 a barrel, up from…NPR
• 30 Oct Big Oil rakes in over $130B in profits as soaring gas prices squeeze consumers amid Iran warBetween April and September, major oil companies such as ExxonMobil and Chevron reported profits of over $130 billion, nearly three times what they earned in the same period last year. This surge is linked to disruptions caused by recent conflicts involving Iran, which have driven up international oil prices by about 60%. Despite increased oil supply through the Persian Gulf, fuel costs remain high, with American…New York Post
• 30 Oct ExxonMobil and Chevron top estimates for Q3 as Americans feel gas price painExxonMobil and Chevron reported stronger than expected third-quarter earnings, with Exxon posting a net income of $3.72 per share and Chevron earning $5.06 per share, both easily surpassing analyst estimates. Despite these profits, consumers are facing significant challenges as gas prices have risen by nearly 38% year-over-year to an average of $4.20 per gallon. This increase is influencing voter sentiment; a recent…The Guardian
• 30 Oct ExxonMobil and Chevron report blowout profits as Trump touts benefits of high oil pricesExxonMobil and Chevron reported significant profit increases in recent financial reports, with earnings doubling for ExxonMobil and surging over 180% for Chevron due to elevated oil prices linked to geopolitical tensions. As oil prices hover near $118 per barrel, the companies have seen their stock values rise by more than 50%, and President Trump has defended the high profits at campaign rallies despite voter…NBC News
• 30 Oct Chevron and Exxon rake in profits thanks to diesel prices boosted by Iran and Russia conflictsChevron and Exxon Mobil reported substantial profits in the third quarter by operating their refineries at maximum capacity amid elevated diesel prices. These high prices are partly attributed to tensions involving Iran, where President Donald Trump's policies have caused supply disruptions through the Strait of Hormuz, reducing global refining capacity and driving up oil and gas costs.Washington Examiner

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