ConocoPhillips reported a 13% drop in second-quarter 2025 profit, to $2 billion. During this quarter, the American oil and gas company produced 2.391 million barrels of oil per day, which is 446,000 barrels per day more than in the same period last year.

ConocoPhillips expects production in the third quarter to range from 2.33 to 2.37 million barrels of oil equivalent per day (MMBOED), while its annual outlook remains unchanged at an average range of 2.35 to 2.37 million barrels of oil equivalent per day (MMBOED).

ConocoPhillips reported a profit decline of about 13% in the second quarter of 2025 (Q2 2025), falling to USD 2 billion, or USD 1.56 per share, compared to USD 2.3 billion, or USD 1.98 per share, recorded in the same quarter of the previous year.

Chevron Corporation (NYSE: CVX) reported earnings of USD 2.5 billion (USD 1.45 per diluted share) for the second quarter of 2025, compared to USD 4.4 billion (USD 2.43 per diluted share) in the second quarter of 2024.

This year, the company achieved record production of 1 million barrels of oil equivalent per day in the Permian Basin. 

ExxonMobil’s earnings per share (EPS) in the second quarter of 2025 were $1.64, exceeding the forecast of $1.56; revenue came in at $81.5 billion, also above the expected $80.78 billion. Despite the strong results, the company’s shares fell 1.89% in premarket trading. Net production since the beginning of the year has increased by 13%, or 520,000 barrels of oil equivalent per day, reaching 4.6 million barrels of oil equivalent per day.

Production volumes have reached their highest levels since the Exxon and Mobil merger. More than 50% comes from high-margin assets, and this figure is expected to rise to 60% by the end of the decade.