A pump jack operates at sunset in the Permian Basin near Loving, N.M., on Tuesday, May 20, 2025. Susan Montoya Bryan/AP hide caption

Susan Montoya Bryan/AP

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Oil companies made billions this quarter, they told investors on calls this week. ExxonMobil earned $15.4 billion, more than doubling its earnings compared to this time last year.

Shell nearly doubled its own earnings, at $10.8 billion.

Chevron's were up 180%, at $9.9 billion.

Together, the three companies pulled in just over $36 billion this quarter.

As with the soaring profits oil companies recorded last quarter , it's largely due to the war in Iran disrupting the global oil supply. Less oil is moving through the Middle East, so the oil in other parts of the world has become much more valuable.

Brent crude is now trading around $113 a barrel .…