Oil firms post big profits as prices surge

Reported by 1 outlet · under-reported · first reported Oct 28, 11:30 AM ET

PetroChina's third-quarter profit rose 21.6% to $7.78 billion. Equinor's operating profit doubled and it raised its output forecast.

Why it matters

War-driven prices boost producers while consumers pay more.

Prices rose after the US-Iran war disrupted Gulf supplies.

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