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The US-Iran war has devastated many families, but has filled the coffers of the world’s largest oil companies. According to data compiled by ‘The Guardian’, the world’s eight largest oil companies made a profit of approximately Rs 8.18 lakh crore in just three months from April to June. This means that these companies earned approximately Rs 8,800 crore every day. That is why even Trump had to say, “They are making a lot of money.”

According to the report, the surge in profits was due to the turmoil in energy markets during the US-Iran conflict . As tensions rose and the possibility of US military action against Iran grew, fears grew in the market that Iran could block oil supplies through the Strait of Hormuz. This led to a sharp increase in crude oil prices. At the height of the conflict, Brent crude prices had reached around $126 per barrel. However, by the end of June, prices fell as supply concerns eased. According to the US government, the average price of Brent crude oil in April 2026 was $117.29 per barrel, $107.14 in May and $85.40 in June.

Which company made the most profit?

• Saudi Arabia’s state-owned oil company , Aramco, was the biggest gainer. Its quarterly net profit was $33 billion, or approximately ₹2.90 lakh crore.
• ExxonMobil posted a profit of approximately ₹1.28 lakh crore, double the same period last year and its biggest quarterly profit since the Russia-Ukraine war in 2022.
• Chevron reported a net profit of approximately ₹1.07 lakh crore in the April-June quarter. Shell reported a profit of $9.84 billion (approximately Rs 86,600 crore), Total Energies reported a profit of approximately Rs 53,100 crore and BP reported a net profit of approximately Rs 50,400 crore.
• Other companies included Equinor (approx. Rs 28,200 crore) and Eni (approx. Rs 19,000 crore). All these companies saw significant growth in their earnings compared to the previous year, mainly due to higher oil prices.

Need for profit for investment

Mike Summers, president of the American Petroleum Institute (API), told Bloomberg TV that oil companies do not set prices, but act on market responses. He added that the industry needs high profits to fund future investments. 

Summers also noted that the prolonged disruption in the Strait of Hormuz has put pressure on fuel prices. During the interview, Mike Summers also said that Trump’s policies have created an environment that benefits the oil industry. However, in the face of record profits, the debate has intensified over whether there should be additional oversight or control over the extraordinary earnings of energy companies during times of global crisis and war.