Brent crude jumped to $96 per barrel, according to Hyperliquid futures, while West Texas Intermediate (WTI) surged to $97. This twin development means higher realized prices plus stronger U.S. export demand.
The company's record production jumped 12% year-over-year, driven by the Hess acquisition, which added 261 thousand barrels of oil equivalent per day. CEO Mike Wirth called it a "significant achievement...integrated Hess, started-up major projects, delivered record production." Chevron's integrated model spans upstream production, refining, chemicals, and emerging energy ventures, including lithium and hydrogen projects. The company returned $12.1 billion in share buybacks for the year and raised its dividend 4% to $1.78 per share.