Exxon Mobil (XOM) Expects Decline in Q1 Production Amid Middle East Disruptions

Exxon Mobil Corporation (NYSE:XOM) is included among the 15 Best Blue Chip Stocks to Buy Now.

Exxon Mobil (XOM) Expects Decline in Q1 Production Amid Middle East Disruptions

Exxon Mobil Corporation (NYSE:XOM) is one of the largest integrated fuels, lubricants, and chemical companies in the world.

Exxon Mobil Corporation (NYSE:XOM) announced on April 8 that it expects the ongoing Middle East conflict to cut its Q1 production by 6% compared to Q4 2025, when it produced ​5 million boe/day. The company’s upstream assets in Qatar and the United Arab Emirates, which accounted for approximately 20% of its total global oil production in 2025, have been impacted by the disruptions amid the war.

That said, the conflict has lifted global crude oil prices by over 65% since the beginning of the year. Exxon Mobil Corporation (NYSE:XOM) expects the soaring prices to boost its Q1 earnings by up to $2.9 billion compared to the previous quarter. However, the oil giant’s downstream earnings could face a temporary reduction of around $5.3 billion due ⁠to the so-called timing effects connected to derivative contracts and cargoes that were not delivered due to the war.

Exxon Mobil Corporation (NYSE:XOM) is scheduled to announce its Q1 2026 results on May 1.

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