Chevron (CVX) stock saw a slight uptick on Monday and in the past week, following several promising updates. Over the past month, Chevron assembled its largest fleet of vessels in almost a year to ship Venezuelan crude oil. The oil major, which holds a license to export US-sanctioned crude, sent 15 vessels this month to ship at least 200,000 barrels a day of oil.
Additionally, while investors were worried about a slowdown in crude shipments this past weekend due to winter storms, a restart at a major Kazakhstan oil field eased concerns. Indeed, Chevron reported it had restarted oil production in Kazakhstan after a power outage shut down output at the Tengiz and Korolev fields on Jan. 18. Tengizchevroil confirmed the “resumption of initial crude oil production,” but industry sources noted volumes remain low.
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Furthermore, Chevron (CVX) and fellow oil giant Exxon Mobil (XOM) are both set to report their Q4 2025 earnings later this week. Lower commodity prices are expected to weigh on the Q4 results of energy companies. Chevron (CVX) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended December 2025. CEO Mike Wirth and CFO Eimear Bonner are also set to speak, the company said in a statement. Investors will be eyeing the February 1 OPEC+ meeting for clues on March production targets and updates on Kazakhstan’s ramp-up plans.
That said, several analysts remain optimistic about the solid execution and long-term growth prospects of XOM. At press time, CVX is trading near the top of its 52-week range and above its 200-day simple moving average. The stock has already boomed 11% in the last 30 days.