XOM · 10-Q · 2026Q2 · Full report

Middle East Supply Disruptions

ExxonMobil Holdings Corp · 2026-08-03 · Importance 46 · Surprise 42 · In source text

Middle East supply disruptions reduced Upstream second-quarter earnings by $1,060 million and year-to-date earnings by $1,280 million. Production was reduced by 116 thousand oil-equivalent barrels per day year over year in the second quarter and by 37 thousand barrels per day year to date, with Permian and Guyana growth partly offsetting the impact. Energy Products earnings were reduced by $310 million in the second quarter and $460 million year to date, while disruptions also prevented physical shipments associated with hedges and contributed to a $1,886 million identified loss.

Key facts

• Upstream Middle East volume in 2Q decreased earnings by $1,060 million due to Middle East disruption impacts. source
• The Energy Products year-to-date identified items were $(1,886) million loss due to impairments and supply disruptions in the Middle East preventing physical shipments associated with hedges. source
• Specialty Products 2Q Middle East volume decreased earnings by $110 million due to supply disruptions. source
• The MD&A states market conditions continued to be heavily influenced by supply disruptions in the Middle East and global refining capacity reductions during the second quarter (text mentions Middle East supply disruptions and refining capacity reductions). source

Impact estimates