Chevron, Exxon plan to keep boosting oil production, even as crude gets cheaper. What gives?

Chevron Corp. and Exxon Mobil Corp. plan to boost their oil and gas production over the next five years, even as falling oil prices may leave investors scratching their heads at the companies’ moves.

Chevron

CVX and Exxon XOM are energy giants that look at longer cycles — and they have a wealth of experience playing the long game. They both benefit from their size and footprint and are among the few remaining global integrated energy companies, meaning they also refine crude oil and have robust chemicals businesses.