CVX · 10-Q · 2026Q2 · Full report

Upstream Production Volume

CHEVRON CORP · 2026-08-06 · Importance 62 · Surprise 58 · In source text

Worldwide net oil-equivalent production averaged 3.97 million barrels per day during the first six months of 2026, up 18% from 3.37 million barrels per day in the prior-year period. U.S. production increased 23% to 2.051 million barrels per day, primarily from the Hess acquisition, Gulf of America project start-ups and Permian Basin growth. International production increased 12% to 1.914 million barrels per day, mainly from Hess assets, partly offset by lower production at TCO and curtailments in the Partitioned Zone between Saudi Arabia and Kuwait. Second-quarter U.S. production rose 23% to 2.077 million barrels per day and international production rose 17% to 1.993 million barrels per day.

Key facts

• Upstream earnings in second quarter 2026: $8.2 billion. source
• Upstream earnings for the first six months of 2026: $12.1 billion. source
• U.S. upstream net oil-equivalent production increased by 382,000 barrels per day, or 23 percent, for the three months ended June 30, 2026 versus year-ago. source
• Upstream earnings for the first six months of 2025: $6.5 billion. source
• Three months ended June 30 U.S. Upstream earnings: $3,541 million (Q2 2026) and $1,418 million (Q2 2025). source
• International upstream earnings for three months ended June 30: $4,641 million (Q2 2026) and $1,309 million (Q2 2025). source
• International upstream net oil-equivalent production was up 292,000 barrels per day, or 17 percent, for the three months ended June 30, 2026 versus year-ago. source
• Company’s worldwide net oil-equivalent production in the first six months of 2026 averaged 3.97 million barrels per day, up 18 percent from a year ago. source

Impact estimates