Oil
Big Oil Eyes Record Profits but Keeps Spending in Check
CEII brief
OilPrice.com reported on 22 Oct 2026: Big Oil Eyes Record Profits but Keeps Spending in Check.
Read the full story on OilPrice.comOil supermajors have been raking it in since the war in the Middle East began. They are now set to report another robust quarter, even as some jurisdictions where they operate plan to slap windfall taxes on them.
Context from CEII
Crude benchmarks move budgets, currencies and inflation in producer and importer countries alike. For economies such as Nigeria, where fuels dominate exports, production and refining decisions move the whole economy.
9.5% of world merchandise exports were fuels in 2025Original reporting © OilPrice.com. Headline and excerpt quoted with attribution; the full article is available on the publisher’s site. CEII’s context is the Centre’s own and does not represent the publisher.
