Exxon Mobil beats Q1 earnings with strong Permian output amid Middle East tensions

Exxon Mobil reported better-than-expected earnings for Q1 2026, driven by a 17% year-over-year increase in production from its Permian Basin operations and record output in Guyana. The company highlighted geopolitical risks, such as a potential closure of the Strait of Hormuz, which could tighten global oil supply and support high prices. Exxon Mobil also executed $4.9 billion in share buybacks and plans to invest $27–29 billion in capital expenditures in 2026, mainly focusing on expanding Permian production. These factors position Exxon Mobil for continued strong cash flow growth despite ongoing Middle East uncertainties.