Oil earnings Chevron (CVX) and Exxon (XOM) Q3 2026

ExxonMobil’s profits doubled to $15.4 billion, or $3.72 a share, compared to $7.5 billion, or $1.76 a share, in the same period in 2025. When adjusted for one-time items, it posted earnings of $4.23 a share, soundly beating Wall Street’s expectations.

“Refining capacity is very tight today,” Exxon CEO Darren Woods told CNBC in an interview. “Frankly, diesel is the key crunch point here because it is so critical to economic growth [with] very inelastic demand.”

Yep, capitalism is going great!