ExxonMobil reported robust Q2 2026 results with $114.5 billion in revenue and $14.5 billion net profit, reflecting strong cash flow and operational resilience. Despite these solid financials, the stock price remained flat as investors remain cautious, viewing current high profits as temporary due to geopolitical tensions. Analysts note ExxonMobil's diversified operations and low-cost production support sustained profits even if oil prices fall, but recommend holding shares for now due to risks of market correction if geopolitical issues ease.
Phillips 66 announced it is now the world's third-largest buyer of Venezuelan crude oil, expanding its fleet and benefiting from Jones Act waivers issued by the Trump administration. This move is part of a strategy to secure discounted heavy crude gr...
ExxonMobil reported nearly $14 billion in upstream profits for Q2, a strong performance compared to $36 billion for the entire fiscal year 2022. This improvement is attributed to cost-cutting measures and growth in advantaged assets, which have enhan...
