Chevron expects production growth at top end of its forecast

Chevron expects production growth at top end of its forecast

Chevron Corp. reported strong production results for the second quarter of 2025, with output reaching an all-time high of nearly 4 million barrels per day (bpd). This significant increase comes amidst a challenging environment marked by lower crude prices and uncertain demand outlooks [1]. The company's robust performance is attributed to higher production in key regions such as the Permian basin, which has been a significant growth driver for Chevron [1].

The quarter was marked by volatile oil prices, influenced by geopolitical factors and OPEC+ output adjustments. Despite this, Chevron's production growth was resilient, with the company's Chief Financial Officer, Eimear Bonner, noting the potential for lower oil prices later this year due to increased supply from OPEC and its allies [1]. Chevron is well-positioned to navigate this potential price pressure, having implemented a strategy that focuses on profitability over production in its key shale plays [1].

Chevron's strong performance may provide a fresh boost to its stock, which has underperformed competitors in recent years. The company is also pursuing major new projects in the Gulf of Mexico and Kazakhstan, while transitioning to a profits-over-production model in the Permian basin [1]. These strategic initiatives are expected to drive future growth and enhance shareholder value.

References:
[1] https://worldoil.com/news/2025/8/1/exxon-chevron-report-record-oil-production-for-second-quarter/