Exxon Sees 6% Production Hit from Middle East Disruptions

ExxonMobil expects Middle East disruptions to cut first-quarter production and reduce refinery throughput, highlighting ongoing impacts to global oil and LNG operations.

(P&GJ) — Exxon Mobil expects Middle East disruptions to reduce global oil-equivalent production by about 6% in the first quarter compared with the fourth quarter of 2025, according to an April 8 filing with the U.S. Securities and Exchange Commission.

The company said production impacts began in early March, affecting upstream assets in Qatar and the United Arab Emirates that account for roughly 20% of its global oil-equivalent output.

In Qatar, attacks during the quarter disrupted two LNG trains in which Exxon holds an ownership interest. Those assets represented approximately 3% of the company’s upstream production in 2025, and repairs are expected to take an extended period, though the company said it cannot yet estimate when operations will return to normal.

Beyond upstream impacts, Exxon said reduced crude availability tied to the disruptions is expected to lower global Energy Products throughput by about 2% in the first quarter compared with the prior quarter.

The filing also noted that supply disruptions in the region affected crude deliveries, further constraining refinery operations and broader manufacturing activity.

Exxon said Middle East-related disruptions contributed to lower volumes across segments, with upstream and downstream impacts reflected in its first-quarter earnings considerations. The company also cited additional financial effects tied to disrupted shipments and hedging activity, including losses on financial hedges not offset by physical deliveries.

Overall, the company said multiple factors, including market conditions, timing effects tied to derivatives, and operational disruptions, will influence first-quarter results relative to the previous quarter, with Middle East events representing a key driver of reduced volumes and throughput.