ExxonMobil, Chevron Profits Surge
Oil majors beat earnings estimates as high diesel prices lifted refining margins.
October 30, 2026 · Updated Oct 30, 11:26am ET
The New York TimesU.S. Oil Industry Earned Over $130 Billion in Profit During Iran War
CNBCChevron and Exxon beat earnings expectations as refining profits soar on high diesel fuel prices
Washington ExaminerChevron and Exxon rake in profits thanks to diesel boosted by Iran and Russia
CNNBig Oil is raking in huge profits. Shareholders like Trump are cashing in. You’re paying for it with high gas prices.
ABC NewsExxonMobil and Chevron top Q3 estimates on higher prices and strong output
MS NOWTrump gets one thing right: Big Oil really is making a ‘freaking fortune’
NBC NewsExxonMobil and Chevron report blowout profits as Trump touts benefits of high oil prices
The GuardianExxonMobil and Chevron top estimates for Q3 as Americans feel gas price pain
WiredThe Iran War’s Impact on Oil Is Hitting Key Senate Races Hard
New RepublicU.S. Oil Industry Reports Blowout Profit as Trump Brags About It
60%
Left · 6
30%
Center · 3
10%
Right · 1
Pano rates the coverage Mostly Left.
What happened
ExxonMobil and Chevron reported sharply higher third-quarter profits as elevated fuel prices boosted earnings. President Trump celebrated the oil industry’s gains at a rally, saying the country was making a “freaking fortune” even though people were paying more at the pump. The U.S.-Israeli war with Iran has disrupted energy supplies and damaged refineries, helping keep oil and fuel prices high. U.S. refiners have benefited by meeting demand with less global refining capacity available. More than 50 large U.S. oil and gas companies earned more than $130 billion from April through September, up from less than $47 billion a year earlier. Higher fuel costs remain a household burden.
How the left told it
Left-leaning outlets framed the profits as a war-driven windfall, with consumers carrying the cost more than companies did. The New York Times focused on who gains and who pays when wars disrupt energy flows. CNN stressed the political risk for the administration as energy prices became a midterm issue. MS NOW emphasized Trump celebrating oil-company gains despite pump-price pain.
How the right told it
Only one right-leaning outlet we track covered this: Washington Examiner, under the headline “Chevron and Exxon rake in profits thanks to diesel boosted by Iran and Russia”.
Iran War Energy Fallout
Part of the storyline · Storyline →- Nov 3Election Day Gas Prices Hit RecordBalanced
- Oct 30ExxonMobil, Chevron Profits Surge (this story)Mostly Left
- Oct 27Iran War Raises Gas PricesBalanced
