ExxonMobil Plans $20 Billion Buyback as $116 Oil Spurs Earnings
ExxonMobil posted Q4 2025 revenue of $82.31 billion with full-year output of 4.7 million barrels equivalent and unveiled a $20 billion share buyback funded by conservative price assumptions. Brent crude at $116 per barrel—70% above Exxon's planning assumption—means each incremental dollar flows almost entirely to profits, raising free cash flow.
1. Q4 2025 Results and Production
ExxonMobil reported Q4 2025 revenue of $82.31 billion and record full-year production of 4.7 million barrels of oil equivalent per day, reflecting its low-breakeven portfolio and operational efficiencies.
2. $20 Billion Share Buyback and Capex Guidance
The company unveiled a $20 billion share repurchase plan for 2026 while guiding capital expenditures of $27–29 billion, underpinned by conservative commodity assumptions to ensure disciplined investment.
3. Effect of $116 Brent on Earnings
With Brent crude trading at $116 per barrel—70% above Exxon's planning assumption—each additional dollar realized is expected to flow almost entirely to earnings, providing a significant boost to free cash flow.