Chevron raised its oil production forecast for this year to 4.0 million to 4.1 million barrels per day, while stating that capital expenditures would be close to $18 billion, lower than the previously expected $19 billion. The company expects free cash flow to grow by approximately $12.5 billion this year, with free cash flow projected to exceed $29 billion in 2026, a 75% year-over-year increase. Investors reacted positively to this news, driving Chevron's stock price up on Monday.