Chevron posted $12.1 billion in second quarter 2026 earnings as worldwide production rose 20% from last year

Chevron announced from Houston on Friday, 31 July 2026, that its second quarter 2026 earnings reached $12.1 billion, or $6.11 per diluted share. Adjusted earnings for the same quarter were reported at $12.0 billion, or $6.06 per diluted share. The quarter's results included an asset sale gain of $230 million and pension settlement costs of $86 million, while foreign currency effects reduced earnings by $49 million.

According to the release, Chevron's return on capital employed in the quarter was 21%. The company's US production reached a record and its worldwide production was 20% higher than a year earlier. Crude unit throughput at Chevron's US refineries also set a record, with crude unit utilisation reaching 97%.

The figures were published on the same day ExxonMobil reported second quarter earnings of $14,525 million. The US refining record comes as the global market for refined products remains under pressure from supply disruption in West Asia and reduced traffic through the Strait of Hormuz.