BUSINESSJul 31 · 14:15 UTCBATON ROUGE BUSINESS REPORTSheridan White

Exxon, Chevron earnings soar amid global oil supply disruptions

ExxonMobil and Chevron reported record profits in Q2 2023 as U.S.-Iran conflicts disrupted oil shipments through the Strait of Hormuz, driving Brent crude prices above $100 per barrel. Lawmakers proposed a windfall tax on oil companies' profits from 2026 onward, with proceeds to be redistributed to consumers.

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ExxonMobilorganizationChevronorganizationU.S.-Iran conflicttopicStrait of HormuzplaceBrent crudetopicSheldon WhitehousepersonRo Khannaperson

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BUSINESSJul 31 · 11:10 UTC
Major oil companies reap massive profits as US and Iran fighting drives energy prices higher
BUSINESSJul 31 · 12:42 UTC
Chevron’s profit nearly quadrupled. Drivers are paying for it at $4 a gallon
BUSINESSJul 31 · 10:49 UTC
Major oil companies reap massive profits as US and Iran fighting drives energy prices higher
BUSINESSJul 31 · 04:23 UTC
Oil companies are expected to reap big profits because of US-Iran conflict