TotalEnergies Sees Stronger Q2 Profit as Refining and Oil Trading Surge

AI Summary

TotalEnergies projects a rise in second-quarter profits driven by higher refining margins, oil trading results, and strong oil production. The company benefits from increased oil prices and tighter fuel markets following the Iran conflict.

TotalEnergies expects higher cash flows from its oil production and strong refining margins and oil trading results to boost second-quarter profits compared to the prior quarter, as oil prices rose and fuel markets tightened in the wake of the Iran war. “Downstream results and cash flow are expected to increase sharply compared to the first quarter of 2026, supported by higher refining and petrochemical margins, as well as oil trading results, which are expected to remain at the same strong level as in the first quarter,” the French…