How much did Exxon Mobil's production decline in Q1 2026?

Production declined by 6% due to Iranian attacks on its Middle East assets.

Which of Exxon Mobil's Middle East assets were damaged?

The LNG plant in Qatar, in which Exxon has a stake, was damaged in an Iranian attack.

What percentage of Exxon Mobil's production comes from the Middle East?

About 20% of Exxon's production comes from the Middle East.

Did Exxon Mobil benefit from higher oil and gas prices?

Yes, it benefited from higher prices, but that only partially offset production losses.

Exxon Mobil Q1 Earnings Reflect Iran War Damage

Exxon Mobil's first-quarter 2026 earnings will be impacted by the Iran war, with production falling 6% due to attacks on its Middle East assets. Despite benefiting from higher oil and gas prices, the company faces significant operational challenges.

Exxon Mobil (XOM) is set to report its first-quarter 2026 results, significantly impacted by the Iran war. The company previewed its results earlier in April, telling investors that attacks on assets it has ownership stakes in will reduce its first quarter production by 6%. Exxon has an ownership stake in a major liquefied natural gas plant in Qatar that was damaged in an Iranian attack, and gets about 20% of its production from the Middle East.

Key Financial Results

Metric	Value
Revenue	TBA
Net Income	TBA
EPS	TBA
Production Change	-6% (due to attacks)

Highlights from the Statement

Exxon confirmed that Iranian attacks on its Middle East assets, especially the LNG plant in Qatar, will negatively impact Q1 production. It noted that higher oil and gas prices partially offset these losses.

Future Guidance

Exxon has not issued formal guidance for the next quarter yet, but geopolitical tensions are expected to continue affecting operations.

Impact on Stock

Exxon's stock is expected to react cautiously, as operational damage may pressure earnings while high energy prices support revenue.

What This Means for Investors

Exxon investors face a delicate balance between gains from higher energy prices and losses from operational damage. Monitoring the Iran war's developments and its impact on Middle East assets is crucial.