America’s top oil companies, Exxon Mobil and Chevron, are expected to report their worst profits since 2021 due to low oil prices and increased production by OPEC+. Despite their rivalry, the two giants are cooperating on exploration projects, including a $53 billion deal won by Chevron over Exxon. Potential merger talks loom as both firms face a challenging quarter. Shell also reported a profit dip, but shares rose slightly amid volatile trade policy and geopolitical uncertainty. Investors are cautious, with oil prices hovering above the low-60s range they hit earlier this year. Exxon and Chevron’s earnings may be impacted as a result.

Read more at Yahoo Finance: Exxon and Chevron, Rivals Turned Frenemies, Face Profit Pressure-Cooker