Chevron Corporation (CVX) News and Outlook on Dec. 25, 2025: $18–$19B 2026 Capex, Hess-Guyana Growth, LNG Expansion, and Oil-Price Headwinds
Dec. 25, 2025 — Chevron Corporation (NYSE: CVX) is heading into 2026 with a sharper message for markets: spend less, squeeze more cash out of its highest-margin barrels, and return more to shareholders—while integrating its newly enlarged portfolio after the Hess acquisition. Even on Christmas Day—when U.S. equity markets are closed—investors and analysts are still digesting a cluster of late-2025 developments: Chevron’s newly set 2026 capital budget, an ongoing push to reshape downstream exposure, major LNG and gas decisions from Australia to the Eastern Mediterranean, and a commodity outlook that could test Big Oil’s “discipline” narrative in the year ahead.