Chevron's operating revenue 2010-2024
Chevron Corporation generated 193.41 billion U.S. dollars in operating revenue in 2024. The multinational company’s revenue experienced a decade of heavy fluctuations, often mirroring development of the global oil market. Chevron has continuously been listed among the largest U.S. oil and gas companies by market value.
Oversupply in the 2010s amid shale extraction development
After the 2008 financial crisis, Chevron increased its production of oil and natural gas by implementing horizontal drilling and hydraulic fracturing to access shale and tight reserves both domestically, as well as abroad. As production soared, a surplus of crude oil led to a corresponding decrease in oil prices worldwide and precipitated a decline in Chevron’s revenue.
Chevron within the oil industry
In 2024, Chevron had ownership interest in more than 40,000 wells distributed all over the globe, with presence on almost every continent. However, over 35,000 of these wells are located in the United States. That same year, Chevron’s net income amounted to 17.66 billion U.S. dollars, with the upstream operating sector being the most profitable.
