Norwegian Oil Giant Equinor Nearly Doubles Profits as Iran Conflict Pushes Up Prices

Equinor, Norway's state oil company, made $11.5 billion in Q2 2026 — nearly double last year's $6.5 billion and above what experts expected. Oil prices jumped from $60–$70 to between $75 and over $100 per barrel after fighting between the US and Iran disrupted a key shipping route. Equinor pumped more oil to fill the gap.