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Chevron Projects Q1 Earnings Surge Amid Oil Price Spike

4/11/2026

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Summary

Story summary

In early 2026, Chevron expects first-quarter earnings to rise by $1.6 billion to $2.2 billion.
The rise follows higher oil prices driven by geopolitical tensions, including the Iran conflict and Venezuela's oil policies.
Following U.S. military actions, including the capture of Venezuelan President Nicolás Maduro, hedging may offset gains amid a backlog of over 1,000 ships.
The Strait of Hormuz reopening has not eased supply issues.

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Story summary

In early 2026, Chevron expects first-quarter earnings to rise by $1.6 billion to $2.2 billion.
The rise follows higher oil prices driven by geopolitical tensions, including the Iran conflict and Venezuela's oil policies.
Following U.S. military actions, including the capture of Venezuelan President Nicolás Maduro, hedging may offset gains amid a backlog of over 1,000 ships.
The Strait of Hormuz reopening has not eased supply issues.