The New York Times reported that the U.S. oil industry earned more than $130 billion in profit during the Iran war. The story was written by Rebecca F. Elliott and Keith Collins and published October 30, 2026. The full New York Times report on oil industry profits is the source for the details in this account.
According to the summary of the Times report, the figure was "almost three times as much" as what businesses producing and refining oil in the United States made in the same period in 2025. The summary compares the profits with that 2025 period but does not specify the length of either period.
The headline and summary describe the $130 billion figure as profit for the U.S. oil industry, while the summary's comparison refers to businesses producing and refining oil in the United States. The summary does not explain whether those two descriptions cover the same companies, and it does not say how the Times calculated profit.
The Times's summary describes the earnings as tied to the Iran war, a conflict the summary does not describe further. The headline uses the phrase Iran war, and the summary offers no additional background on the conflict or its timing.
The summary does not name the companies included in the figure, and it does not include a response from the companies or from government officials. Because the available material is limited to the headline and summary, this account does not add figures, names or explanations beyond those in the Times report.
Sources: The New York Times: U.S. Oil Industry Earned Over $130 Billion in Profit During Iran War.