Energy · Houston, United States · United States of America · October 30, 2026

Oil majors post record profits as refining margins surge

Reported by 5 outlets · first reported Oct 30, 5:00 AM ET

Exxon reported $15.4 billion in third-quarter profit, more than double a year ago. Chevron nearly tripled to $9.9 billion. BP earned $8.46 billion. Shell and TotalEnergies doubled profits.

Why it matters

Higher fuel costs for drivers and businesses are producing large gains for oil companies.

Background

Refining margins rose as the Iran war and strikes on refineries cut supply.

The story so far

1. Oct 29Shell, TotalEnergies double profits; Sinopec up 64%
2. Oct 30Oil majors post record profits as refining margins surge
3. Oct 31Oil majors report record profits as Brent holds above $113

Follow the whole story →

Sources

• OilPrice ↗Oct 30, 1:27 PM ET
• OilPrice ↗Oct 30, 2:30 PM ET
• CNBC ↗Oct 30, 5:00 AM ET

This summary was written automatically from the reporting linked above; follow the sources for the full story. How One Turn works.

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