Nine big oil firms on track to share more than $95bn profit two quarters in a row

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1. 1h ago

   Nine Major Oil Producers Projected to Earn Over $95bn in Q3

   Nine of the largest listed oil producers are on track to earn combined profits exceeding $95bn in the third quarter, according to analysis by investment broker AJ Bell. This windfall follows two consecutive quarters of high earnings driven by tightened fuel supplies and rising fossil fuel prices linked to conflict in the Middle East. The surge in refining earnings persists despite previous criticisms from Donald Trump regarding the amount of money these companies make. Firms including Saudi Aramco and BP are facing calls to use these profits for renewable energy transitions and environmental reparations.

   Why it matters

   Rising fuel costs have increased consumer spending at the pump while boosting corporate margins. The current profit surge is tied to geopolitical instability and supply constraints. This creates a tension between corporate profitability and public demands for climate action funding.

   What is confirmed

   • Nine listed oil producers are projected to earn more than $95bn in combined third-quarter profits.
   • Tightened fuel supplies have contributed to surging refining earnings for oil majors.
   • Donald Trump has criticized Big Oil for making too much money.

   Still unconfirmed

   • War in the Middle East and conflict involving Iran are driving up fossil fuel prices.
   • Saudi Aramco and BP are being called upon to pay for environmental damage using windfall profits.

   What to watch next

   • Official third-quarter earnings reports from Exxon and Chevron
   • Legislative proposals for windfall taxes on oil profits
   • Updates on Middle East conflict affecting fuel supply chains
   Sources used for this update (9)

   1. Fox Business — Oil giants post billions in profits as Americans feel pain at the pump
   2. CNBC — Trump called out Big Oil profits. Here’s how much their refining earnings have surged since
   3. NPR — Oil company earnings skyrocket — again
   4. www.cnbc.com — Trump called out Big Oil profits. Here’s how much their refining earnings have surged since
   5. Yahoo Finance — Exxon, Chevron paint bullish pictures of the oil business
   6. The Guardian — Nine big oil firms on track to share more than £95bn profit two quarters in a row
   7. article.wn.com — Nine big oil firms on track to share more than $95bn profit ...
   8. streamlinefeed.co.ke — AJ Bell forecasts $95bn in third-quarter profits for nine oil ...
   9. www.netnews1.com — Nine big oil firms on track to share more than £95bn profit ...
   confidence 90%