XOM · News · 20260803N

Crude Price & Geopolitics

ExxonMobil Holdings Corp · 2026-08-03 · Importance 20 · Surprise 24

ExxonMobil Senior Vice President Neil Chapman warned that global crude inventories were approaching unprecedented lows. He said Brent crude could reach $150-$160 per barrel if inventories continue to decline amid geopolitical tensions. The warning links Exxon’s commodity outlook to depleted strategic reserves and continuing disruption risks in the Middle East.

Key facts

• ExxonMobil and Chevron together booked a combined $26.5 billion in second-quarter net income (reporting by 247wallst), while another report said combined profits of US$29 billion in the second quarter (The Star). source