Big Oil quarterly profits surge as Iran war redraws winners and losers
The National · 4 Aug 2026

Big Oil quarterly profits surge as Iran war redraws winners and losers

Big Oil delivered its strongest quarter since the aftermath of Russia's invasion of Ukraine, with six of the world's biggest oil companies posting a combined $79.4 billion in second-quarter net income as Brent crude averaged about $104 a barrel, up more than 50 per cent year-on-year. The Iran war se


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