Chevron Stock Outlook: Can CVX Hold Up With Oil Under $60?

Key Takeaways CVX trades at a premium 23X forward P/E despite oil under $60 and weakening earnings forecasts.Chevron's earnings are more exposed to crude price volatility than peers like ExxonMobil and Shell.Downstream strength offers stability, but low oil prices still weigh heavily on Chevron's outlook.Chevron Corporation (CVX) heads into 2026 against a difficult backdrop, with oil prices stuck below $60 and global supply risks skewed toward oversupply. Over the past year, the stock has lagged the S&P 500 ...