Major Oil Companies Report Surging Profits and Warn of Persistent Diesel Shortages Due to Middle East Conflicts

ExxonMobil, Chevron, and BP have reported record quarterly profits, attributing the windfall to soaring refining margins. They warned that the diesel crunch is likely to persist, a situation exacerbated by attacks in the Middle East and Russia that have disrupted refining facilities and global energy markets, driven by the ongoing Iran war.