Energy · Houston, United States · United States of America · October 31, 2026

Oil majors report record profits as Brent holds above $113

Reported by 2 outlets · first reported Oct 30, 12:44 PM ET

Exxon reported third-quarter profit of $15.4 billion and Chevron $9.9 billion. Refining earnings drove the gains. Brent crude rose 2.37% to $113.43 a barrel. US gasoline is up 34% and heating oil 74%, one report said.

Why it matters

High fuel costs are squeezing households and feeding into US midterm politics.

Background

Wars involving Iran and Ukraine have disrupted refineries and shipping, tightening fuel supplies.

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, 12:44 PM 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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