ExxonMobil and Chevron post a combined $26.5 billion second quarter; Chevron sets a record

ExxonMobil and Chevron together earned $26.5 billion in the second quarter of 2026. The results were reported on Friday 31 July 2026 (9 Mordad 1405).

Chevron posted record net income of $12.2 billion, nearly five times its profit in the same period a year earlier. ExxonMobil earned $14.5 billion, double its result for the same quarter last year and its best since oil prices surged following Russia's invasion of Ukraine. Both companies produced more oil and refined more fuel over the quarter.

According to the report, Washington is investigating why gasoline costs so much in the United States. The Iran war pushed crude prices to high levels, a factor that has fed through to the earnings of the large oil companies.