World’s Top Oil Firms Boosted Q1 Combined Profits To $46 Billion

The ten largest public oil firms in the world reported combined profits of $46 billion for the first quarter of 2021, thanks to higher oil prices this year, data compiled by Anadolu Agency from financial statements showed this week. The top ten firms that the agency analyzed—ExxonMobil, Chevron, Total, Shell, BP, Eni, Equinor, Lukoil, Rosneft, and Saudi Aramco—saw their combined profits rise by $8.5 billion due to the more favorable commodity price environment and signs of recovering demand.   To compare, in Q1 2020, when the pandemic…