Chevron raised its production forecast to between 4 million and 4.1 million barrels per day for this year while advising that its capital spending will be closer to $18 billion than $19 billion. The company anticipates growing its free cash flow by about $12.5 billion this year. Added to the $16.6 billion the company generated last year, this implies 2026 FCF could surpass $29 billion, growing 75% year over year. Chevron stock rose 3.2% through 10:15 a.m. ET on Monday following the news.
Chevron CorpChevron raised production forecast and cut spending outlook, boosting free cash flow expectations.
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