Chevron Says Iran War Reduced Production, Impacted Earnings.

  • Published In: Bloomberg.com, 2026. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Casey, Simon 3 of 3

Abstract

The article focuses on Chevron Corp.'s reported production decline of up to 6% in the first quarter, attributed to reduced output in the Persian Gulf, Israel, and Kazakhstan amid the Iran war. Chevron's production ranged between 3.8 million and 3.9 million net oil-equivalent barrels per day, down from 4.05 million barrels in the previous quarter. The company also highlighted a negative earnings impact of up to $3.7 billion related to war-driven spikes in oil and natural gas prices, partly due to "timing effects" in derivatives accounting, which are expected to reverse in future quarters. Despite this, higher commodity prices are projected to increase earnings in Chevron's upstream segment by as much as $2.2 billion compared to the prior quarter. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2026/04, pN.PAG
  • Document Type:Article
  • Subject Area:Business and Management
  • Publication Date:2026
  • Accession Number:192903387
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