Chevron Stock Hits New High as Depleted Oil Buffers Raise Price Risk

Chevron's stock price has reached near-record highs after CEO Mike Wirth warned that oil buffers built up during the Iran conflict are largely depleted, increasing the risk of higher crude prices in the coming months.

The New York Stock Exchange closed price for Chevron on September 11, 2026 was USD 214.06, a 0.61% gain from the prior session and a year-to-date increase of roughly 40.5% from USD 152.44 at the start of 2026.

Chevron plans to invest $7 billion in Venezuela over the next five years, aiming to double production to more than 600,000 barrels per day. The expansion will be funded from existing operations rather than new debt, keeping leverage and balance-sheet risk contained.