Corrosion inhibiting formulations including a substituted benzimidazole, a mercaptocarboxylic acid, a 2-thioxodihydropyrimidine-dione, a sulfhydryl alcohol, a surfactant, and a solvent. Methods for preventing, inhibiting, or reducing metal (e.g. carbon steel) corrosion utilizing these formulations are described. The formulations are effective against corrosion of metallic substrates in sweet (i.e. CO2), sour (i.e. H2S), and/or high salinity environments commonly found in petroleum industry.