Oil companies worldwide have reported substantial profits during the first quarter and first half of the year, with cautious expectations given the Middle East conflict.

Regional scenario: Latin America and the United States

Brazilian company Petrobras reported a daily average of 3.281 million barrels of oil and natural gas in the first half of the year, equivalent to 15.1% more than the same period in 2025.

Venezuelan oil company PDVSA reported accumulated revenues of $9.4 billion from January to May. Meanwhile, the refining subsidiary Citgo Petroleum closed its first quarter of 2026 with a net profit of $157 million.

The Argentine company YPF reported a net profit of $409 million and an operating profit of $878 million, in addition to achieving a record adjusted EBITDA for a first quarter of $1.594 billion, thanks to higher international prices and efficiency in Vaca Muerta.

The US-based Chevron reported net profits of $2.2 billion and adjusted profits of $2.8 billion in the first quarter of 2026. ConocoPhillips reported adjusted earnings per share (EPS) of $1.89 and total revenue of approximately $15.36 billion in the same period.

Europe and Asia

Repsol (Spain) reported earnings of €2.201 billion in the first half of this year, a 265% increase, for a net profit of €2.711 billion.

Italy’s Eni reported earnings of €4.390 billion from January to June, a 156 % increase compared to the €1.715 billion reported for the same period last year.

Finnish oil company Neste reported a net profit of €1.298 billion in the first half of the year.

British Shell reported $6.9 billion in earnings for the first quarter and a net profit of $5.694 billion.

Saudi Aramco, for its part, posted an adjusted net profit of $33.6 billion from January to March, representing a year-on-year increase of 25 % to 26 % compared to the same period in 2025.

PetroChina also reported a net profit attributable to shareholders of 48.333 billion yuan (approximately $7.07 billion) in the first quarter of 2026, a year-on-year increase of 1.9 %.

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The US Federal Reserve decided on June 17 to maintain interest rates at 3.50%–3.75%. The decision resulted from a unanimous vote by the FOMC.

According to the FOMC’s statement, “productivity and capital investment remain strong, while job gains are keeping pace with the labor force.”

Regarding the unemployment rate in the country, the FOMC noted slight changes in recent months. The Fed also confirmed that it will maintain ample reserves in the banking system, a strategy to provide liquidity.

Despite improvements in some indicators, inflation continues its upward trend and remains above the 2 % target, “driven in part by supply shocks that have raised prices in sectors such as energy.”

The committee stated that the economy “continues to show resilience, although it acknowledged that the international situation adds short-term risks.”

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El Salvador will halt the increase in gasoline and diesel prices in three regions of the country until June 8, according to an announcement by the Directorate of Energy, Hydrocarbons, and Mines.

The reference fuel prices are: premium $4.74, regular $4.41, and diesel $4.44 in the central region; in the western and eastern regions, premium remains at $4.75, regular at $4.42, and diesel at $4.44.

The conflict in the Middle East has destabilized the global energy market, causing fuel shortages and price increases. El Salvador, like other nations, is seeking to maintain calm among the population and the industrial sector, where the use of gasoline and diesel is crucial.

According to local authorities, “stable prices allow drivers to better plan their transportation expenses. While this isn’t a price reduction, the stability helps avoid a further increase in the cost of filling up, especially for those who travel long distances or use their vehicle for work.”

New reference prices will be announced after June 8. In the meantime, consumers continue to “compare prices between gas stations, check tire pressure, avoid sudden acceleration, and plan routes to reduce unnecessary travel.”

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Felipe Chapman, Panama’s Minister of Economy and Finance, assured last week that the country remains stable in the face of the Middle East crisis, which has generated a rise in oil prices, with consequences for the price of electricity, gas, and transportation.

According to the official, the country “can rest assured, as there will be no shortages. Fortunately, there is sufficient fuel availability in our American continent.”

However, he indicated that authorities are continuing to evaluate contingency measures to reduce “the impact of the fuel price increase and thus prevent the population from being affected by a rise in the cost of living.”

Although the increase in oil prices represents higher subsidy expenses for the State, Chapman stressed that without implementing measures, this increase would be passed on to public transportation fares, electricity, and the price of a 25-pound tank of gas. He stated that they will have to adjust finances and reallocate resources to address the situation.

According to the minister, “if the upward trend continues and the conflict persists, the government will have to adjust its finances, since resources, unfortunately, will have to be restricted.” “We will have to be very prudent and disciplined in cutting other Panamanian government expenditures.”

Last Tuesday, the official indicated that if the conflict in the Middle East continues, measures such as the possible implementation of teleworking in some economic sectors, rationing the use of official vehicles, reducing government mailings, authorizing vacations for non-essential personnel, and implementing staggered work schedules will be evaluated.

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The Middle East conflict has repercussions at both the regional and global levels. The increase in oil prices has spread to the gas and fuel sectors, prompting the European Union to prepare contingency measures to minimize the effects on consumers.

The EU is streamlining procedures for importing non-Russian gas amidst the escalating conflict in the Middle East, which has impacted supply. This has led to more flexible requirements, reduced red tape, and faster response times from authorities.

Currently, the United States, Africa, and Qatar are considered potential alternatives for importing liquefied natural gas.

There are specific initiatives in the region, such as in Italy, where Prime Minister Giorgia Meloni announced a reduction of €0.25 per liter of fuel to alleviate the effects of price increases caused by the war. The measure was approved by the Council of Ministers through a decree-law.

Spain, for its part, is reportedly evaluating similar options; that is, reducing taxes, offering incentives for consumption, “eliminating the CO₂ price, or returning to the ‘Iberian exception’ or a cap on gas prices,” according to European media.

Although the International Energy Agency has stated that member countries can release more oil onto the market, France does not share this view. Finance Minister Roland Lescure has indicated that the country cannot replace lost flows with existing reserves.

In any case, the consequences of the conflict in the Middle East and the closure of the Strait of Hormuz are being felt globally, with price increases in oil, gas, electricity, and fuels, forcing governments to scramble to find alternatives not only for supply but also to minimize the impact on the population.

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La entrada Middle East conflict accelerates relief measures in the energy sector apareció primero en Bitfinance.

Oil, gas, and gold prices showed a marked increase on Monday due to the impact of the Middle East conflict on the energy sector.

Regarding oil, on Monday, March 2, the price exceeded $80 per barrel. Disruptions to crude oil supply drove the price of Brent Crude from the North Sea to $80.14 per barrel, representing a 9.98% increase.

🛢️ El precio del petróleo se dispara más de un 8% y el gas un 24% en el arranque de la sesión por el conflicto en. https://t.co/BRkfySxXKG

— La Razón (@larazon_es) March 2, 2026

On the other hand, “West Texas Intermediate (WTI) advanced nearly 12 %, in a direct reaction to the death of Iran’s Supreme Leader, Ayatollah Ali Khamenei, and other high-ranking regime officials.”

Regarding European gas, the price rose more than 20 % in the first hours of the conflict. The Dutch TTF futures contract reportedly climbed to €38.885, according to AFP, although it remains below the level reached earlier this year during the cold snap.

Gold also opened the week higher, though it later stabilized, with a 2 % increase in value, as the attacks on Iran boosted demand for safe-haven assets. The precious metal was trading at $5,400 at the start of Monday.

 

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Una publicación compartida por Diario Libre (@diariolibre)

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