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Big oil companies report record profits amid high oil prices

Big oil companies report record profits amid high oil prices

Photo by Jan Zakelj

Crude oil all time high predictions

Exxon Mobil Corporation (XOM) price

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Market cap
$748.5B (shares as of 2026-06-30)
P/E (trailing)
Unavailable: no trailing SEC earnings: no complete trailing window in the SEC EPS data
Annual revenue
Unavailable: no annual filing figure
Annual revenue growth
Unavailable: no annual filing figure
Annual net income
Unavailable: no annual filing figure
Annual operating margin
Unavailable
Forward P/E
Unavailable: no dated forecast source

Gloria daily close for session Oct 28, 2026. Market cap and trailing P/E use this close with the SEC share total and trailing diluted earnings, each dated next to its figure. Annual revenue, revenue growth, net income and margin show their own fiscal period and link the 10-K. Current context may postdate this article.

Exxon Mobil Corporation and its peers

Company PriceMarket capP/E (trailing)Forward P/EAnnual revenue (USD)Annual revenue growthAnnual net income (USD)Operating margin
Exxon Mobil Corporation XOM · Price dated Oct 28, 2026 · tokenized XOMx $182$748.5BUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Chevron Corporation CVX · Price dated Oct 28, 2026 · tokenized CVXx $229$452.8B22.1Unavailable$189.0BFY ended 2025-12-31 · 10-K−6.8%FY ended 2025-12-31 vs 2024-12-31 · 10-K12,299,000,000FY ended 2025-12-31, attributable to the company · 10-KUnavailable
ConocoPhillips COP · Price dated Oct 28, 2026 $149$179.1B19.7Unavailable$58.9BFY ended 2025-12-31 · 10-K+7.7%FY ended 2025-12-31 vs 2024-12-31 · 10-K7,988,000,000FY ended 2025-12-31, attributable to the company · 10-KUnavailable

Missing figures stay unavailable. Forward P/E requires a dated source. Annual revenue, revenue growth, net income and margin come from each company's own 10-K, in US dollars, and each row shows that fiscal year. Revenue growth compares the fiscal year with the prior year stated in the same 10-K. Net income is the full year amount attributable to the company, or available to common stockholders where the filing states only that, or consolidated net income. Each row names its basis. Trailing P/E reads "Not meaningful" when the dated trailing diluted EPS is a loss or zero. An operating margin appears only when the filing states both the operating income and the revenue for the same year.

Sources: SEC filings, Gloria daily closes and CoinGecko. Oldest record refresh: Oct 28, 2026, 4:26 PM EDT. Refresh is not a price or filing date. Each row shows its price date and its annual fiscal period. Peers use industry code and company size, or editorial selection. Market cap multiplies that row price by the company share total the latest SEC filing states for every share class together. Trailing P/E divides it by trailing diluted earnings from SEC filings. Rolled earnings per share are approximate because share counts can change between periods. Both appear only when the SEC data carries its date, so they are estimates at one price date, not synchronized filing valuations. Not investment advice.

Major integrated oil companies, including ExxonMobil, Chevron, and Shell, have announced record or near-record profits for the second quarter of 2026. ExxonMobil reported an impressive profit of approximately $14.5 billion, while Chevron and Shell reported profits of $12.1 billion and between $9.8 billion and $10.8 billion, respectively. These results reflect the continued impact of elevated crude prices due to supply disruptions in the Middle East. Market analysts note that Chevron’s earnings were the highest quarterly profit in at least six years, surpassing analyst expectations. The strong financial performance of these companies suggests that the high oil prices and robust refining margins are translating into significant producer profits.

Key Takeaways

  • Record profits reported by major oil companies appear to support a narrative of sustained high demand and pricing for crude oil.
  • Market pricing suggests a moderate increase in confidence for crude oil achieving a new all-time high this year, particularly in the December 31 sub-market.
  • The current high profit margins of oil producers may indicate continued supply constraints and geopolitical tensions affecting market sentiment.

What to Watch

Observers should monitor upcoming announcements from OPEC and key geopolitical developments in the Middle East, as these could influence oil supply dynamics. The market appears to expect potential catalysts between now and December 31, which may impact the likelihood of crude oil reaching a new all-time high. Attention should also be paid to any changes in global oil demand forecasts and possible policy shifts affecting oil production.

Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.

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