Seven OPEC+ producers keep December output unchanged while crude opens lower. Nov 09, 2026, 11:15 ET HOUSTON, Nov. 9, 2026 /CNW/ - Crude oil futures were lower on Monday morning. As of 9:47 a.m. ET, the December NYMEX West Texas Intermediate contract was at $87.43 a barrel, down $3.40 or 3.74% from Friday's settlement of $90.83, while the January ICE Brent contract was at $93.96, down $4.36 or 4.43% from its $98.32 settlement. Third-quarter results from large producers, refiners and liquefied natural gas exporters were released over the past two weeks. Active Companies from around the markets with current developments this week include: ExxonMobil Holdings Corporation (NYSE: XOM), Chevron Corporation (NYSE: CVX), ConocoPhillips (NYSE: COP), Marathon Petroleum Corporation (NYSE: MPC), and Cheniere Energy, Inc. (NYSE: LNG). On the supply side, the seven OPEC+ countries that previously announced additional voluntary adjustments in April and November 2023 (Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman) met virtually on November 1 and decided to maintain September 2026 required production for December 2026, according to the OPEC Secretariat's statement. The group said it will continue to hold monthly meetings, with the next one scheduled for November 29, 2026. In the U.S., the Energy Information Administration's latest Weekly Petroleum Status Report put commercial crude oil stocks, excluding the Strategic Petroleum Reserve, at 409.8 million barrels for the week ending October 30. That was down 865,000 barrels from the prior week and about 11.4 million barrels below the same week a year earlier. The EIA said its next weekly report will be released on Thursday, November 12, due to the closure of the federal government on Wednesday, November 11. Oil stocks track crude, but not tick for tick: some lead, some lag and some ignore it. The chart is one way to see which is which. Oil Market Daily's sister site, Stock Preachers, offers a free 27-page guide, Knowledge is Power, with 10 chapters in plain English on the two skills every trade comes down to: reading the news and reading the chart. Readers who sign up also receive The Roadmap every Monday, Wednesday and Friday. ExxonMobil reported third-quarter 2026 earnings of $15.4 billion, or $3.72 per share, and adjusted earnings of $17.5 billion, or $4.23 per share. The company said it reached 44 consecutive years of increases in annual dividends per share and announced 2027 share repurchases of $20 billion, assuming reasonable market conditions. It also declared a fourth-quarter dividend of $1.07 per share, payable on December 10, 2026. "In the third quarter, we continued to rise to the challenge of meeting global energy needs, drawing on unmatched scale, integration, and technical capabilities," said Darren Woods, ExxonMobil chairman and chief executive officer. Chevron's third-quarter 2026 earnings came to $9.9 billion, or $5.06 per diluted share, with adjusted earnings of $10.4 billion, or $5.28 per diluted share. U.S. refinery crude unit throughput set a new record of 1.09 million barrels per day, and the company said its Venezuela joint ventures plan to invest $7 billion over the next five years. The board declared a quarterly dividend of $1.78 per share, payable December 10, 2026. "We delivered strong operational performance and disciplined execution, while continuing to invest to grow energy supply," said Mike Wirth, Chevron's chairman and chief executive officer. ConocoPhillips reported third-quarter 2026 earnings of $4.0 billion, or $3.34 per share, and adjusted earnings of $3.9 billion, or $3.27 per share. Production was 2,302 thousand barrels of oil equivalent per day, and the company raised its quarterly ordinary dividend by 11% to $0.93 per share, payable Dec. 1, 2026. It also said its Willow project is on track for first oil in early 2029, with module fabrication scope over 75% complete. "ConocoPhillips is continuing to execute our differential strategy, with strong operational and financial performance across the portfolio," said Andy O'Brien, president and chief executive officer. At Marathon Petroleum, third-quarter 2026 net income attributable to MPC was $7.4 billion, or $26.59 per diluted share, while adjusted EBITDA was $11.7 billion, compared with $3.2 billion a year earlier. The refiner announced a 10% increase in its quarterly dividend and said it is advancing strategic priorities through the announced divestiture of Mid-Con assets, with the intent to reinvest primarily in the Gulf Coast. "Our value chain capabilities remain a defining advantage for us, capturing opportunities to enhance margins across dynamic market conditions," said Chairman, President and Chief Executive Officer Maryann Mannen. Cheniere raised its full year 2026 Consolidated Adjusted EBITDA guidance to a range of $8.75 billion to $9.25 billion, from $7.90 billion to $8.40 billion, and reported third-quarter 2026 revenues of approximately $6.2 billion. The board declared a quarterly dividend of $0.625 per common share, an increase of over 12% from the prior quarter, payable on November 17, 2026. "Our outstanding results and improved outlook enable us to further raise our guidance ranges for 2026, and the successful completion of CCL Stage 3 and our continued debottlenecking efforts provide increased visibility into our initial production forecast for 2027," said Jack Fusco, Cheniere's Chairman, President and Chief Executive Officer. For readers who want to follow how oil and gas stocks move relative to crude, the free Knowledge is Power guide from Stock Preachers covers reading the news and reading the chart, and is available here: https://oilmarketdaily.com DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is not a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. This article is independent news commentary. Oil Market Daily is wholly owned and operated by Market Equities Limited ("MEL"), a company incorporated under the laws of Ireland. MEL has not been paid by any company mentioned in this article. MEL and its owners, operators, directors, and affiliates do not currently own any shares of the companies mentioned in this article, but reserve the right to, and will, buy and sell shares of those companies at any time without further notice. Crude oil prices are delayed exchange quotes for the NYMEX December 2026 WTI and ICE January 2027 Brent futures contracts as of 9:47 a.m. ET on November 9, 2026, with prior settlements from November 6, 2026, obtained from a third-party market data provider; inventory figures are from the U.S. Energy Information Administration's Weekly Petroleum Status Report released November 4, 2026, and OPEC+ production information is from the OPEC Secretariat's November 1, 2026 statement. 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Oil markets have shifted from talk of scarcity to talk of surplus, as weaker demand, fuller tanks and a softer geopolitical risk premium pull on crude prices. That changes the economics for refiners, who earn on the spread between crude costs and fuel prices. Marathon Petroleum has a market value of about $106.9 billion. It earned about $165.1 billion from refining and marketing, $12.1 billion from midstream, and $4.1 billion from renewable diesel. Valero Energy is valued at roughly $101.9 billion. It made about $146.1 billion from refining, $7.9 billion from renewable diesel, and $5.1 billion from ethanol. Türkiye Petrol Rafinerileri is valued at around TRY 639.2 billion. Refining brought in about TRY 1,021.3 billion of its TRY 1,029 billion revenue, and it runs at 98% to above 100% capacity utilisation.

Marathon Petroleum: much higher Q3 results driven by operational performance. In Q3 2026, Marathon Petroleum generated revenue of $56.48bn, up nearly 58% y-o-y. Published on 11/04/2026 at 09:30 am EST MarketScreener.com This growth in activity translated into a marked improvement in operating profitability: adjusted EBITDA reached $11.7bn, a 265.63% jump compared with Q3 2025. At the bottom of the income statement, the momentum was even more pronounced. Attributable net income came to $7.4bn, representing a spectacular 428.57% jump, or $26.59 per diluted share. Adjusted net income, meanwhile, totaled $7.5bn (+719.67%), or $26.93 per diluted share. This level of performance stems directly from the group's strategy, as Maryann Mannen, president and chief executive officer of Marathon Petroleum, points out: "Disciplined execution across operations, commercial and planning generated significant cash flow, supporting high-return investments while delivering substantial returns to our shareholders. The sustainable growth of MPLX* and the increase in its cash flow to Marathon Petroleum represent a differentiated value proposition." * (Editor's note: Marathon Petroleum's publicly traded strategic subsidiary, which operates hydrocarbon logistics and transportation infrastructure: pipelines, storage terminals, river and marine facilities, as well as natural gas processing plants) A strong balance sheet supporting shareholder returns These cash flows are strengthening the group's financial structure. As of September 30, 2026, the US group specializing in the refining, transportation and distribution of oil held $13.6bn in cash, cash equivalents and short-term investments, including $1.3bn in liquidity at MPLX. It had no borrowings outstanding under its $5bn 5-year revolving bank credit facility. With this financial flexibility, the group continued its active capital distribution policy: $3.3bn in capital was returned to shareholders during the quarter. To maintain this pace, the board of directors approved an additional $5bn authorization for its share repurchase program. Including the remaining $3.1bn authorization as of September 30, 2026, Marathon Petroleum would have had $8.1bn available to repurchase its own shares. (C) MarketScreener.com - 2026