US oil producers have raked in more than $200bn in profits since Russia’s invasion of Ukraine as they cash in on a period of geopolitical turmoil that has shaken up the global energy market and sent prices soaring.
Aggregate net income for publicly listed oil and gas companies operating in the US came to $200.24bn for the second and third quarters of the year, according to an analysis of earnings reports and estimates carried out by S&P Global Commodity Insights for the Financial Times.
The figure — which includes supermajors, midsized integrated groups and smaller independent shale operators — marks the sector’s most profitable six months on record and puts it on course for an unprecedented year.
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