Chevron Cuts Share Buybacks Amid Oil Price Pressures

Published 19 hours agoCVX

Chevron Cuts Share Buybacks Amid Oil Price Pressures

Chevron Corporation has recently announced a reduction in its share buyback program for the second quarter of 2025. The company plans to repurchase approximately $2.75 billion worth of its own stock, marking a 30% decrease from the $3.9 billion repurchased in the first quarter. This decision is within the bounds of Chevron's annual buyback guidance, which ranges from $10 billion to $20 billion.

Ongoing trade tensions, particularly tied to tariffs imposed during President Donald Trump's administration, have contributed to a drop in global oil demand, significantly impacting crude prices. Additionally, Reuters reported that the recent move by OPEC+ to increase oil production has exerted further downward pressure on oil prices, complicating revenue expectations for oil companies like Chevron.

Despite the challenging market environment, Chevron reported first-quarter earnings of $3.8 billion, or $2.18 per share, which met Wall Street's forecasts. However, Chevron anticipates a reduction in earnings from its oil and gas segment due to these market pressures. The company has maintained its oil production at 3.35 million barrels of oil equivalent per day and has initiated production at the Ballymore project in the Gulf of Mexico.

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