By Editorial Dept - Aug 21, 2026, 9:30 AM CDT
Numbers Report – August 21, 2026In the latest edition of the Numbers Report, we will take a look at some of the most interesting figures put out this week in the energy and metals sectors. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers. Let’s take a look.1. US Oil Majors Turn Homeward as War Hits Output- US oil majors are increasingly prioritizing upstream investment in the US and the wider Americas region as Donald Trump’s war against Iran has slashed their 2026 production outlook. - Despite extremely positive Q2 results for most majors, with both Exxon and Chevron posting double-digit billion-dollar returns, the gains were almost entirely driven by price effects, not production growth. - Chevron was the only US major to post quarter-on-quarter and year-on-year production growth, whilst Shell’s output fell by a whopping 300,000 b/d. - To offset production losses in Qatar and Oman, ExxonMobil has boosted its US production to a record 2.1 million b/d, whilst Chevron has been at the forefront of Venezuela’s upstream revival. - US oil majors’ bumper profits in the wake of the US-Iran war have allowed for drastic reductions in their net debt, with Chevron and ExxonMobil paying down $8 billion and $7 billion, respectively.2. Europe’s Power System Runs Into Hot Water- Europe’s coastal and fluvial regions will be facing growing challenges as rising temperatures cause…
