Big Oil Posts $93bn War Profits
Amid ongoing military conflicts in Eastern Europe and the Middle East, the world’s leading integrated oil companies collectively posted $93 billion in net profit for the fiscal year ending June 2026, according to aggregated financial disclosures and third‑party analysis from Bloomberg and the International Energy Agency. The profit surge coincided with a 35 % rise in Brent crude prices, driven by supply constraints imposed by sanctions and damaged infrastructure, while global carbon emissions continued to climb, contradicting the Paris Agreement targets set for 2030.