Two Major U.S. Oil Giants Q2 Earn $26.5 Billion, Possibly Enraging Trump
2026-07-31 20:03:49
According to CoinMeta, financial reports released by two major American oil giants, ExxonMobil and Chevron, show that in the context of the Trump administration's military actions against Iran which drove up crude oil and gasoline prices, the two companies achieved a combined net profit of $26.5 billion in the second quarter. Chevron reported a net profit of $12.2 billion in the second quarter, which is about five times higher than the same period last year, setting a new record for quarterly earnings. ExxonMobil, on the other hand, recorded a net profit of $14.5 billion in the second quarter, doubling its profit from the same period last year and achieving its best quarterly performance since the outbreak of the Russia-Ukraine conflict in 2022. Such substantial profits may lead to a direct conflict between these two companies and U.S. President Donald Trump, who has previously accused the energy industry of "price gouging."
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Source:Internet
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