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Oil companies hit with backlash after bringing in $200 billion in profits last year - TL;DR CNBC

Oil companies hit with backlash after bringing in $200 billion in profits last year

Publishing timestamp: 2023-03-03 11:00:01


Summary

Oil companies made record profits in 2022 due to high oil prices, but this has caused backlash from consumer advocates and political leaders. The industry has said that the depiction of oil companies as greedy war profiteers is false. They are also bracing for a world where demand for oil is expected to decline.


Sentiment: MIXED

Tickers: TTE-FRSHEL-GBXOMBP.-GBCVX

Keywords: chevron corptotalenergies sebp plcbusiness newsshell plcexxon mobil corpoil and gasenergy

Source: https://www.cnbc.com/2023/03/03/oil-companies-bring-in-200-billion-in-profits-in-2022.html


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