Big Oil Heads for Record Profits as Trump Turns Up the Heat on Gas Prices
4 Articles
4 Articles
Oil prices have risen again after new attacks in the Middle East. Now American oil giants are expected to report record profits - at the same time as Donald Trump is pressured by high gasoline prices.
Increasing the production of fossil fuels pushes the world in the opposite direction to the objectives set by the Paris Climate Agreement, with which many of these companies promised to align, but whose commitments have been decliningThe big oil companies earn 73.
Big Oil Heads for Record Profits as Trump Turns Up the Heat on Gas Prices
The oil majors are set for windfall earnings for the second quarter, which saw crude oil prices jump to a four-year high due to the closure of the Strait of Hormuz. The earnings at both ExxonMobil and Chevron are expected to have tripled in the April to June quarter compared to the first quarter, as the worst supply disruption in the history of oil markets crippled oil flows from the Middle East, triggered crude price spikes and heightened volat…
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