Big Oil Scores $56 Billion Windfall on Spiking Fuel Prices
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Big Oil reaped more than $50 billion in windfall profits as conflicts in the Persian Gulf and Russia drove refining results to record highs. ExxonMobil Holdings Corp., Chevron Corp., BP Plc, Shell Plc and TotalEnergies SE all surpassed third-quarter expectations with combined adjusted net income of $56.3 billion. Bloomberg's Vincent Piazza joins to discuss.
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