U.S. oil firms made wartime earnings above $130 billion
The New York Times reported that American oil companies earned more than $130 billion in profit during the war with Iran, describing the conflict as very lucrative for the industry. The newspaper said people were paying much higher prices during the conflict.
More context
A New York Times report published October 30 put U.S. oil firms' wartime earnings above $130 billion. The report said the conflict had been lucrative for the companies as people paid much higher prices.
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Reporting
- The New York Times — U.S. Oil Industry Earned Over $130 Billion in Profit During Iran War
Verifier’s note
The New York Times directly reports that U.S. oil companies earned more than $130 billion in profit during the Iran war. The other results concern Shell’s quarterly profits or oil-company earnings more broadly and do not report this central claim.