Oil giant BP reported a profit of $5.7 billion (£4.2 billion) for the most recent quarter, more than double the $2.3 billion (£1.7 billion) earned during the same period last year. The increase is attributed to higher oil prices driven by conflict in Iran. This result exceeded City expectations of $5 billion (£3.7 billion). BP Chief Executive Meg O’Neill described it as a “strong” quarter, occurring during “one of the most disrupted periods in the global energy market”.
The profit surge comes amidst criticism from environmental groups who accuse the company of profiteering. Simultaneously, U.S. President Donald Trump criticized Big Oil for earning “too much money” off elevated fuel prices connected to the Iran conflict.
While left-leaning outlets emphasize the connection between geopolitical events and BP’s profits, right-leaning coverage focuses on the strong financial results themselves. No right-leaning sources reported criticism of BP's earnings. The figures represent a full quarter impacted by the ongoing conflict.
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