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Big Oil Scores $56 Billion Windfall on Spiking Fuel Prices
Refining profits hit record highs as conflicts in the Middle East and Russia sidelined about 10% of global fuel-making capacity, companies said.
Summary by The Record
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6 Articles
Watch Big Oil Scores $56 Billion Windfall on Spiking Fuel Prices
Big Oil reaped more than $50 billion in windfall profits as conflicts in the Persian Gulf and Russia drove refining results to record highs. ExxonMobil Holdings Corp., Chevron Corp., BP Plc, Shell Plc and TotalEnergies SE all surpassed third-quarter expectations with combined adjusted net income of $56.3 billion. Bloomberg's Vincent Piazza joins to discuss.
·New York, United States
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Petrogas giants aggregate US$50.4 billion, carried mainly by refining.
·Montreal, Canada
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Total News Sources6
Leaning Left2Leaning Right1Center2Last UpdatedBias Distribution40% Left, 40% Center
Bias Distribution
- 40% of the sources lean Left, 40% of the sources are Center
40% Center
L 40%
C 40%
R 20%
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