Big Oil profits are soaring while extreme heatwaves scorch the planet this summer

This summer, millions of people have felt the dire consequences of climate change as they faced extreme, record-breaking heat. And the Big Oil companies fueling those heat waves are seeing their profits soar, a new analysis finds. In the first quarter of 2026, the world’s six biggest oil companies—BP, Chevron, Eni, ExxonMobil, Shell and TotalEnergies—saw a combined net income of $23 billion. For Q2, that figure is expected to nearly double to $45 billion, according to an Oxfam report ba...