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Bloomberg

Big Take: War Is Good For Big Oil's Profits

Monday, August 3, 2026


Exxon and Chevron reported their highest annual profits in years. US gasoline prices remained elevated during the period covered by these earnings reports. Bloomberg oil reporter Mitchell Ferman analyzed the relationship between corporate profitability and pump prices.

Original reporting: https://www.bloomberg.com/news/videos/2026-08-03/big-take-war-is-good-for-big-oil-s-profits

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