Jul. 31 at 6:12 PM
Chevron’s refining segment saw profits jump to
$4.9 billion, a 500% increase over
$737 million in the second quarter of 2025, as gasoline and diesel prices soared due to the disruption in the Middle East.
Exxon’s refining business posted earnings of
$5.5 billion in the second quarter, a big turnaround from a loss of
$1.3 billion in the first quarter, on strong Gulf Coast utilization and record diesel production. The segment’s earnings totaled
$1.4 billion a year ago.
Chevron’s earnings in its production business climbed 200% to
$8.2 billion in the second quarter compared to
$2.7 billion in the year-ago period. Exxon’s upstream profits for exploration and production came in at
$7.9 billion versus
$5.4 billion in the second quarter of 2025.
$XOM $CVX