---
title: "They’re making record profits, but oil companies still won’t ‘drill, baby, drill’"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/295508855.md"
description: "Major oil companies Exxon Mobil, Chevron, and Shell reported record-breaking quarterly profits driven by supply constraints. Despite these substantial earnings, the industry has not significantly increased production volumes in response to the 'drill, baby, drill' sentiment."
datetime: "2026-08-11T08:59:53.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/295508855.md)
  - [en](https://longbridge.com/en/news/295508855.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/295508855.md)
generator: "portal-rs"
---

# They’re making record profits, but oil companies still won’t ‘drill, baby, drill’

Over the last two weeks, oil companies have announced eye-popping profits from the spring quarter. Exxon Mobil pulled in $14.5 billion. Chevron landed $12 billion, its highest quarterly profit on record. Shell posted $9.8 billion — more than twice its earnings from the same time last year. These profits are largely a product of supply constraints b...

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**