Oil industry profits from Iran war
The gist
More than 50 large U.S. oil and gas companies earned over $130 billion in six months of the Iran war.
Households paid $1,184 more on average as pump prices hit records.
How it unfolded
- Feb 28, 2026The United States and Israel began striking Iran, starting the war.
- Apr 2026 to Sep 2026More than 50 large U.S. oil and gas companies earned over $130 billion in profit, versus less than $47 billion in the same period in 2025.
- Oct 24, 2026At a campaign event in Georgia, President Trump said oil and gas companies are "making hundreds of billions of dollars" and "We're making a freaking fortune."