Chevron forecasts full-year 2026 output of 3,980-4,100 mboed
CVX•Full-year 2026 production outlook
Chevron forecast full-year 2026 production at 3,980-4,100 MBOED, versus 3,858 MBOED in 1Q26 and 4,070 MBOED in 2Q26.
Capital spending and earnings outlook
Organic capex outlook was set at USD 18-19 billion; Chevron expects to finish at the low end. Organic capex was USD 3.9 billion in 1Q26 and USD 4.4 billion in 2Q26.
Adjusted “All Other” segment earnings are forecast at USD (3.6)-(4.0) billion; this compared with USD (0.9) billion in 1Q26 and USD (0.9) billion in 2Q26.
Affiliate distributions, buybacks and dividend guidance
Affiliate distributions are expected at about USD 4.5 billion; 3Q26 affiliate distributions were guided at USD 1.5-1.7 billion.
3Q26 buybacks were guided at USD 2.5-3.0 billion; dividend guidance was held at USD 1.78 per share, with outstanding at June 30, 2026.
