ExxonMobil Holdings Corp. and Chevron Corp. plowed blowout profits into debt reduction rather than huge buyback increases in a sign of Big Oil’s caution about how long war-driven price rallies will last.
Source: [Bloomberg Markets](https://www.bloomberg.com/news/articles/2026-07-31/exxonmobil-chevron-steer-windfall-profits-into-debt-reduction)