15 Hrs
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الاقتصادية
Exxon and Chevron cite rising fuel prices amid Iran conflict
ExxonMobil and Chevron, the two largest oil production companies in the United States, issued warnings about the continued rise in fuel prices due to the Iran war, which is causing significant disruptions in the energy sector and high profit margins in refining. They indicated that supplies of diesel and refined products will remain limited, with expectations of continued upward pressure on product prices into the third quarter and beyond, due to declining fuel inventories, refinery outages in Russia, and shrinking exports from China. The companies also reported high profits, with Exxon achieving a record in diesel production and Chevron recording a record level of refinery output in the United States, emphasizing the importance of resuming shipping through the Strait of Hormuz to reduce future market disruptions.
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