03 Aug 2026

19:42

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Home Blog Exxon and Chevron’s $26.5 Billion Quarter Draws Trump’s Ire

Exxon and Chevron’s $26.5 Billion Quarter Draws Trump’s Ire

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Update date: 2026/07/31

ExxonMobil and Chevron made a combined $26.5 billion in the second quarter after producing more oil, refining more fuel, and selling all of it into a market scrambled by war. Washington is investigating why gasoline costs so much. Chevron reported record net income of $12.2 billion, nearly five times its year-ago profit. Exxon earned $14.5 billion, double what it made during the same quarter last year and its best result since oil prices soared following Russia’s invasion of Ukraine. The Iran war sent crude prices sky high after Gulf production…

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