Energy Down After Exxon, Chevron Earnings -- Energy Roundup

Published: 2026-05-01 17:39:15 ET XOM

Published on 05/01/2026 at 05:39 pm EDT

Shares of energy companies fell on a mixed market response to strong earnings from two U.S. oil majors.

Exxon Mobil shares slipped despite the Texan oil major posting earnings that surpassed Wall Street expectations. Chief Executive Darren Woods said on the company's earnings call that the effects on the oil market may only be beginning.

Chevron shares fell even after the second largest U.S. oil producer by output said the Iran war bolstered its quarterly earnings.

California oil producer Occidental Petroleum Chief Executive Vicki Hollub said she would retire next month after 10 years leading the company and hand the reins to her chief operating officer, Richard Jackson.

Write to Rob Curran at [email protected]

(END) Dow Jones Newswires

05-01-26 1738ET