Key takeaways
- Uncertainty is the main issue in the oil market, but that doesn't mean that these integrated energy giants aren't making plans.
- Exxon reported strong third-quarter 2026 earnings, with GAAP earnings of $3.72 per share, up from $1.76 a year earlier.
- Management noted that oil prices ranged from $68 to $132, a huge $64-per-barrel spread in just the third quarter.
Exxon specifically noted that the Middle East will remain a key driver of energy prices. Chevron highlighted that maintaining a strong financial position is vital during periods of highly volatile oil prices.
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