- Chevron (CVX) shares ticked up on Monday and have risen over the past week after several operational updates.
- Chevron assembled its largest fleet in nearly a year to move Venezuelan crude, dispatching 15 vessels this month to carry at least 200,000 barrels per day under a license to export sanctioned oil.
- Production at Kazakhstan’s Tengiz and Korolev fields restarted after a Jan. 18 power outage; Tengizchevroil confirmed the “resumption of initial crude oil production,” though volumes remain low.
- Chevron and Exxon Mobil (XOM) will report Q4 2025 results later this week, with lower commodity prices expected to pressure earnings; CEO Mike Wirth and CFO Eimear Bonner are scheduled to speak.
- Investors are watching the Feb. 1 OPEC+ meeting for guidance on March production and updates on Kazakhstan’s ramp-up; CVX trades near the top of its 52-week range and is up about 11% in the last 30 days.
Chevron (CVX) shares rose slightly on Monday and gained over the past week after the company reported increases in crude shipments and a restart of Kazakhstan production. The firm moved to ship Venezuelan oil this month and said production resumed at Tengiz and Korolev following a Jan. 18 outage. Investors are also focused on upcoming quarterly results and an OPEC+ meeting.
Chevron assembled its largest fleet of vessels in nearly a year to load Venezuelan crude. The company, which holds a license to export U.S.-sanctioned crude, sent 15 vessels this month to transport at least 200,000 barrels per day.
A weekend slowdown in shipments due to winter storms raised investor concern, but a restart at a major Kazakhstan field helped ease those fears. Production at the Tengiz and Korolev fields was shut by a power outage on Jan. 18; Tengizchevroil confirmed the “resumption of initial crude oil production,” although industry sources said output remains low.
Both Chevron and Exxon Mobil (XOM) will report Q4 2025 earnings later this week. Lower commodity prices are expected to weigh on results. Chevron is forecast to report a year-over-year decline in earnings on higher revenues for the quarter ended December 2025, and CEO Mike Wirth and CFO Eimear Bonner are scheduled to speak.
Investors will watch the Feb. 1 OPEC+ meeting for clues on March production targets and for updates on Kazakhstan’s ramp-up plans. Analysts remain optimistic about Exxon Mobil’s execution and long-term growth prospects. At press time, Chevron traded near the top of its 52-week range, above its 200-day simple moving average, and had risen about 11% over the last 30 days.
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