NEW YORK, January 3, 2026, 07:58 ET
- Chevron shares rose about 2.3% on Friday as energy stocks gained ahead of an OPEC+ supply decision.
- Brent settled at $60.75 and WTI at $57.32 after both benchmarks logged nearly 20% losses in 2025.
- A quarterly holdings filing showed Ninety One UK held about $57.5 million of Chevron shares as of Sept. 30.
Chevron shares climbed 2.3% to $155.90 on Friday, the first trading session of 2026, as energy stocks gained ahead of an OPEC+ supply meeting this weekend. Exxon Mobil rose 1.9%, BP’s U.S.-listed shares gained 3.2%, and Vanguard’s energy-sector ETF added about 2.2%.
The move put focus on oil-linked stocks at the start of the year, with traders watching whether OPEC+ will keep output steady at its Sunday meeting. The eight producers — Saudi Arabia, Russia, the UAE, Kazakhstan, Kuwait, Iraq, Algeria and Oman — pump about half the world’s oil and raised output targets by around 2.9 million barrels per day from April to December 2025, three delegates said. They agreed in November to pause output hikes for January through March, even as Saudi Arabia and the UAE face tension over Yemen, the sources said. Reuters
Investors also head into a busy January for U.S. markets, when key economic data can reset interest-rate expectations and the dollar. The monthly jobs report is due Jan. 9, and U.S. consumer price inflation data is due Jan. 13. Reuters
Oil prices settled lower on Friday after their biggest annual loss since 2020, as oversupply worries kept traders cautious despite geopolitical headlines. Brent crude futures ended down 10 cents at $60.75 a barrel and U.S. West Texas Intermediate eased 10 cents to $57.32, after both benchmarks lost nearly 20% in 2025. “Oil prices are locked in this long-term trading range,” said Phil Flynn, senior analyst at Price Futures Group. Reuters
OPEC+ — the Organization of the Petroleum Exporting Countries and allies — has used output limits and planned increases to manage prices. Even small shifts in supply expectations can move crude futures and, by extension, energy equities.
Chevron is one of the largest U.S. integrated oil and gas producers, with upstream operations that typically benefit from higher crude prices and refining that can soften downturns. Investors often treat the shares as a proxy for large-cap oil exposure when macro signals turn choppy.
A quarterly U.S. holdings report showed London-based asset manager Ninety One UK Ltd held 370,173 Chevron shares valued at about $57.5 million as of Sept. 30. The filing, known as Form 13F, discloses stock positions held by large managers at the end of a quarter. SEC
In a separate SEC filing, Chevron director John B. Hess reported sales of Chevron stock on Nov. 20 and Nov. 21 through a trust. The Form 4 disclosure listed six sales totaling 550,000 shares at weighted-average prices between about $149.48 and $152.43. SEC
Chevron’s next corporate catalyst is earnings, as investors look for updates on production, spending and shareholder returns against a softer oil backdrop. MarketBeat estimates Chevron will report fourth-quarter results on Jan. 30, based on past reporting schedules. MarketBeat
Friday’s advance echoed moves across the sector, suggesting the trade was driven more by oil and macro positioning than company-specific developments. Traders will also watch Exxon and BP for signals on how large producers are setting expectations into the OPEC+ meeting.
Energy shares can react quickly if the group signals a faster return of supply or, conversely, extends restraint. Surprise shifts in crude can also ripple into fuel margins, which feed the refining side of major producers’ results.
