Chevron and ExxonMobil See Massive Second-Quarter Profits Due to Higher Oil Prices

Chevron and ExxonMobil both delivered very high Q2 profits largely backed by surging oil prices tied to the U.S.-Iran conflict. Chevron’s net income was notched at $12 billion (a ~4x uptick versus the same period last year), while Exxon’s profits reached $14.5 billion versus $7.1 billion during the same time frame in 2025 (more).