17:24 - 1.08.2025

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August 1, Fineko/abc.az. Despite falling oil prices, ExxonMobil and Chevron exceeded analysts' earnings expectations in the 2nd quarter due to record production.

ABC.AZ informs that Exxon reached its highest quarterly volumes in 25 years, while Chevron increased production up to 4 million b/d.

ExxonMobil's adjusted earnings were $1.64 per share (+8 cents to forecast), Chevron's was $1.77 per share (+6 cents to expectations).

Exxon maintains an annual share buyback program of $20 billion, Chevron - up to $15 billion.

At the same time, Chevron raised its forecast for free cash flow, despite possible price declines.