Chevron Corp. reported its fourth-quarter earnings for 2024, with an adjusted earnings per share (EPS) of $2.06, falling short of the estimated $2.11. The company's revenue reached $52.23 billion, surpassing the expected $45.77 billion. Chevron's cash flow from operations was $8.7 billion, slightly below the anticipated $8.75 billion. The company's upstream earnings were $4.30 billion, beating the estimate of $4.02 billion, while it reported a downstream loss of $248 million, against an expected profit of $215.4 million. Worldwide production stood at 3,350 MBOE/d, exceeding the forecast of 3,324 MBOE/d. Chevron also announced a 4.9% increase in its quarterly dividend to $1.71 per share. Despite the earnings miss, Chevron plans to increase oil production by up to 10% in the US Permian Basin this year, despite reducing capital spending in the region, as stated by CEO Mike Wirth.