International situation: Oil companies reap the dividend!

The ongoing conflicts in Ukraine and the Middle East are significantly disrupting geopolitical balances and profoundly impacting energy markets. While consumers and importing nations bear the brunt of soaring and volatile oil prices, major oil corporations are reaping substantial financial rewards.

This global trend is acutely felt in Tunisia, where a widening energy deficit is placing additional strain on the country's external finances. The price of oil, which hovered around $70 per barrel before the conflict in February 2026, has seen peaks exceeding $120 per barrel, with only temporary dips below $80. Analysts attribute these dramatic fluctuations to the shifting sentiments and declarations of parties involved in the war, including news of ongoing negotiations, concluded agreements, or renewed hostilities.

These conflicts, which affect not only fertilizer and raw material shipments but also approximately 20% of global oil traffic through the Strait of Hormuz, are generating significant profits for major oil companies. According to The Guardian, the eight largest oil producers, Aramco, BP, Shell, Equinor, TotalEnergies, Eni, Chevron, and ExxonMobil, amassed over $93 billion in profits between the war's start and the end of June. This averages out to an astonishing $700,000 per minute.

Furthermore, these companies have achieved record market capitalizations since 2022. ExxonMobil has seen a 63% increase, Chevron 43%, TotalEnergies 40%, and Shell 27%, demonstrating the immense financial gains derived from the current geopolitical climate. The escalating global inflation is a direct consequence of these market dynamics, disproportionately affecting economies reliant on energy imports.

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the eight principal oil producers (Aramco, BP, Shell, Equinor, TotalEnergies, Eni, Chevron and ExxonMobil) have amassed more than $93 billion in profits since the start of the war and until the end of June, with an average of $700,000 per minute!