Bullish Case: Chevron's high oil sensitivity and analyst upgrade pointing to macro tailwinds suggest strong performance. Guyana's arbitration win and $75/bbl oil price forecast underpin optimism.


Bearish Case: Overturning Chevron doctrine could disrupt operations. Heavy fines from environmental litigation risks and climate policy shifts may destabilize Chevron's outlook.


Potential Outcomes:

1. Bullish on positive Guyana outcome and stable oil prices (60%).

2. Bearish on litigation and policy shifts (30%).

3. Neutral if market conditions balance risks (10%).


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April 13, 2024


Chevron Forecast

CVX        Chevron
Price Forecast: NEUTRAL    Price Action: RANDOM (?)






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