Iran War Drives Oil Profits to Highest Levels in Years

31 July 2026 at 17:09

The world’s biggest oil companies are benefiting from the high commodity prices that have been a drag on the rest of the economy.

An Exxon Mobil refinery in Baytown, Texas. The war with Iran has been a boon for many oil producers.

U.S. Oil Is Skipping the Chance to Grab Market Share From the Gulf

NYT - Energy & Environment

By: Rebecca F. Elliott

22 June 2026 at 15:14

U.S. oil production is expected to grow only modestly next year as companies hesitate to spend more in an uncertain market.

Smaller U.S. oil producers are starting to drill more wells, but big companies like Exxon Mobil and Chevron have said they are not changing their plans as a result of the war with Iran.

Deal to Reopen Hormuz Kicks Off Long Effort to Ease Energy Crisis

NYT - Energy & Environment

By: Rebecca F. Elliott

15 June 2026 at 16:52

The pace of the recovery will depend on how confident companies are that the deal between the United States and Iran will hold and be extended.

Vessels in the Strait of Hormuz this month.

Exxon Is Nearing a Deal to Pump Oil in Venezuela, Marking a Victory for Trump

NYT - Energy & Environment

By: Anatoly Kurmanaev

21 May 2026 at 20:58

The U.S. oil giant is negotiating a deal to pump oil in Venezuela, ending a standoff with its socialist rulers and marking a victory for President Trump.

Reading view