{
  "id": 44538,
  "title": "Exxon and Chevron profits surge on rising oil prices due to Iran war",
  "url": "https://urgent.news/2026/07/31/exxon-and-chevron-profits-surge-on-rising-oil-prices-due-to-iran-war",
  "topic": "world",
  "section": "World",
  "published": "2026-07-31T15:52:20.000Z",
  "source": {
    "name": "CNBC World",
    "slug": "cnbc-world",
    "url": "https://www.cnbc.com/2026/07/31/exxon-xom-chevron-cvx-q2-earnings.html"
  },
  "original_language": "en",
  "account": "ExxonMobil and Chevron reported record profits in the second quarter due to skyrocketing oil prices caused by the Iran war. Chevron's net income jumped to $12 billion, nearly quadrupling to $2.5 billion from the same period last year. Exxon's profits increased to $14.5 billion, more than doubling from $7.1 billion in the same quarter last year. Adjusted earnings for Chevron reached $6.06 per share, exceeding Wall Street's expectations, while Exxon's earnings per share of $3.52 fell short by 8 cents. CEO Mike Wirth of ExxonMobil attributed the discrepancy to refining business challenges and the uncertainty in global crude and products markets. Chevron's U.S. production reached an all-time high of nearly 2 million barrels per day, driven by increased exports due to disruptions in the Middle East. Worldwide production for ExxonMobil hit a record 4.5 million barrels per day.",
  "summary": "ExxonMobil and Chevron on Friday reported second-quarter profits that surged on rising oil prices due to the Iran war.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "DW Business",
        "title": "ECB keeps interest rates unchanged amid Iran war inflation",
        "url": "https://urgent.news/2026/07/23/ecb-keeps-interest-rates-unchanged-amid-iran-war-inflation",
        "published": "2026-07-23T13:54:00.000Z"
      },
      {
        "outlet": "CBS News",
        "title": "Oil companies see soaring profits amid Iran war",
        "url": "https://urgent.news/2026/08/02/oil-companies-see-soaring-profits-amid-iran-war",
        "published": "2026-08-02T00:54:06.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}