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Chevron sees stronger coal use and growth in gas power for data centers, shares rise amid energy sector gains.

Market News
28 May 2026
Lekha Gupta
View Source
Bullish
pluang ai news

Chevron CEO Mike Wirth highlighted at a recent conference that coal consumption is expected to remain stronger than previously forecasted, and supplying gas-fired power to data centers could become a significant growth area. The company also noted potential multi-billion dollar costs for rebuilding energy infrastructure in the Middle East. Chevron shares are slightly outperforming the energy sector amid a broadly positive market, with analysts maintaining a Buy rating and raising price targets. This outlook suggests Chevron is positioning for growth in traditional and emerging energy markets despite current market consolidation.

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