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WORLDNBC News

ExxonMobil and Chevron report blowout profits as Trump touts benefits of high oil prices

Photo: Michael Nagle

The two largest U.S. oil companies, ExxonMobil and Chevron, on Friday reported blowout profits that easily beat expectations as oil prices remain sharply elevated because of the U.S. war with Iran.

ExxonMobil reported a profit that doubled from the same period last year, while Chevron’s earnings surged more than 180% from a year earlier.

As part of the bumper returns, Exxon said it was increasing the dividend it pays to investors.

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WORLDFrance 24

Could US midterms impact the EU? Transatlantic ties hit new low after Trump-Putin diesel deal

From the EU's perspective, the second Trump presidency has felt even more destabilising than the first. From making the false claim that the EU was set up to "screw" the United States, to slapping tariffs on European goods, to making territorial claims on Greenland, to doing a diesel deal with Vladimir Putin and telling Ukraine to get a new president, Donald Trump has more than ruffled feathers on this side of the ocean. He has shaken the very foundations of the historical transatlantic relationship.