NEW YORK, December 30, 2025, 19:05 ET — After-hours
Chevron Corporation (CVX) shares were up 0.9% at $152.31 in after-hours trading on Tuesday. Exxon Mobil (XOM) gained 0.4%.
The move matters heading into the final trading day of the year, when liquidity can thin out and commodity-linked stocks can react sharply to swings in crude. For Chevron, oil prices set the tone for near-term cash flow and shareholder returns.
Chevron is an integrated oil major, meaning it produces crude and also refines it into fuels. That mix makes results sensitive not just to oil prices, but also to refining margins — the profit from turning crude into products.
Oil ended little changed on Tuesday as traders weighed setbacks to Russia-Ukraine peace hopes and rising Middle East tensions around Yemen, Reuters reported. Brent settled at $61.92 a barrel and U.S. West Texas Intermediate at $57.95. “The peace agreement between Russia and Ukraine could be delayed further, which is supportive to prices,” said Dennis Kissler, senior vice president of trading at BOK Financial, while other analysts flagged both supply disruptions and an oversupplied outlook into early 2026. 1
Investors also digested a Reuters report that Kazakhstan’s oil output fell about 6% in Dec. 1–28 versus November, led by a drop at the Chevron-led Tengiz field after a Ukrainian drone attack damaged the Caspian Pipeline Consortium’s Black Sea export terminal. Tengiz output was down 10% to about 719,800 barrels per day, Reuters said, and exports via the CPC route were down 19% so far in December to about 1.082 million bpd. The CPC terminal handles about 80% of Kazakhstan’s oil exports and is the key outlet for crude from fields operated by Chevron, Exxon, Eni and Shell, the report said. 2
Separately, Canadian producer Frontera Energy said its Colombian unit signed a prepayment and commercial agreement worth up to $120 million with Chevron Products Company to supply crude over two years. Frontera said the deal includes an $80 million advance and could be topped up by a further $40 million. 3
On the data front, U.S. crude inventories rose by 405,000 barrels to 424.8 million barrels in the week ended Dec. 19, versus expectations for a 2.4 million-barrel draw, the Energy Information Administration said in data released after the oil market had closed, Reuters reported. The EIA lists the next weekly petroleum status report for Dec. 31, with a standard release time of 10:30 a.m. ET. 4
For Chevron, those inventory prints can sway crude prices and crack spreads — the gap between crude and refined products — that flows through to downstream earnings.
U.S. stock markets are set for a full session on Wednesday, New Year’s Eve, and will be closed on Thursday for New Year’s Day. Bond markets are due to close early at 2 p.m. ET on Dec. 31. 5
Beyond oil headlines, traders will watch for any fresh updates on CPC export constraints and Tengiz volumes. Chevron’s next earnings report is expected around Jan. 30, according to Nasdaq. 6
