Amid the backdrop of the conflict in the Middle East, the profits of major oil companies have increased by 57 percent.
Against the backdrop of the conflict, rising oil prices brought the profits of the world's nine largest oil companies to $152.8 billion in the first half of the year.
The rise in oil prices amid the conflict between the US and Israel with Iran has led to a sharp increase in the revenues of the world's major oil companies. The total profit of nine leading companies in the first half of 2026 amounted to $152.8 billion. The Anadolu Agency reported this.
According to calculations, the total profit of Saudi Aramco, ExxonMobil, Chevron, ConocoPhillips, Shell, bp, TotalEnergies, Eni, and Equinor increased by 56.9 percent compared to the same period last year. A year earlier, this figure stood at $97.4 billion.
Saudi Aramco recorded the largest profit — the company earned $65.2 billion in January-June. This is 33.9 percent more than in the same period last year.
Additionally, ExxonMobil's profit amounted to $18.7 billion, Shell $16.5 billion, Chevron $14.3 billion, TotalEnergies $11.2 billion, Equinor $7.9 billion, bp $7.7 billion, ConocoPhillips $6.1 billion, and Eni $5.1 billion.
The impact of the Middle East conflict on the energy market intensified further in the second quarter. The US companies ExxonMobil, Chevron, and ConocoPhillips posted a combined profit of $30.5 billion during this period. This is 163 percent more than last year's $11.6 billion.
Chevron's profit nearly quintupled, reaching $12.1 billion. ExxonMobil earned $14.5 billion, while ConocoPhillips posted a profit of $3.9 billion.
Saudi Aramco recorded a net profit of $32.7 billion in the second quarter. Shell's profit amounted to $10.8 billion, TotalEnergies' $5.4 billion, Equinor's $4.8 billion, and bp's $3.9 billion.
The total profit of the nine companies in the second quarter reached $92 billion, up 108.6 percent compared to $44.1 billion a year earlier.
While the rise in oil prices has boosted companies' revenues, the increase in gasoline and diesel prices in the US is becoming a political problem for the government.
On the eve of the midterm elections scheduled for November, rising fuel prices contradict the Trump administration's goals of reducing inflation and lowering energy costs.
US President Donald Trump said that ExxonMobil and Chevron are "making too much money" amid supply shortages and called on them to direct part of their profits toward lowering prices for consumers.
The US government had earlier instructed the Department of Justice to conduct an investigation into the fact that, despite the decline in oil prices on the global market, this change was not being reflected quickly enough in fuel prices at US gas stations.
Kpler economist Reed Ienson noted that rising energy prices are intensifying inflationary pressure in the US through sectors such as freight and aviation.
Rabobank strategist Florence Schmit noted that as the midterm elections approach, the Trump administration's political pressure aimed at lowering energy prices is increasing.
According to expert forecasts, the average price of Brent crude oil over the next two quarters could be around $80–85 per barrel.
Furthermore, if the conflict between the US and Iran escalates further and other countries in the Persian Gulf are drawn into it, the risk of a sharp rise in oil prices may increase.
