Exxon Mobil and Chevron Report Decreased Earnings Due to Falling Energy Prices

• Exxon Mobil reported earnings of $7.08 billion in Q2 2025.
• Chevron announced earnings of $2.49 billion for the same period.
• OPEC+ will increase oil production to reduce gas prices.

In the second quarter of 2025, Exxon Mobil's earnings fell to their lowest level in four years, resulting from decreased oil prices and increased production by OPEC+. The company earned $7.08 billion, or $1.64 per share, compared to $9.24 billion, or $2.14 per share, for the same period last year.

Analysts expected results to exceed forecasts, predicting $1.49 per share, while total sales volume decreased to $81.51 billion from $93.06 billion. Meanwhile, Chevron also reported a decrease in earnings to $2.49 billion, or $1.45 per share, which is also the lowest level in four years.

In July, all OPEC+ member countries announced an increase in production by 548,000 barrels per day, which may lead to further price reductions for gas. These decisions were made amid a stable global economic outlook and low oil reserves.

Oil prices fell during the conflict between Israel and Iran, but subsequently dropped again after the signing of a ceasefire agreement mediated by the U.S., which included the bombing of Iranian nuclear facilities.

Tags: Energy