Three of the largest oil and gas producers this week reported strong combined profits of $85.6 billion in 2023. 

On Friday, Exxon Mobil reported $36 billion in profit for the year, supported by further oil and gas production. Chevron outlined profits of $21.4 billion — the second-largest profits in a decade for both. Shell, on Thursday, reported adjusted earnings of $28.25 billion for the year, down significantly from 2022 but also the second-largest in a decade.