US oil giants reap windfall profits amid price spike ...News

Russia Today - Economy
US oil giants reap windfall profits amid price spike
source : Russia Today ( News ) () 31
Some firms have seen boosts in quarterly profits exceeding 200% compared to last year US oil firms ExxonMobil and Chevron have reported record profits, reaping tens of billions of dollars due to a major surge in prices fueled by conflict in Eastern Europe and a months-long Western sanctions spree on Russia, a major global exporter.  Issuing their quarterly earnings reports on Friday, the petro-giants have both come out ahead, with Exxon seeing a 273% jump in profits compared to the second quarter of 2021, and 247% for Chevron.  Exxon reported $17.6 billion in profits, nearly double what it brought in for the first

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