Shell and Exxon Mobil Report Production Hits Amid Ongoing Iran War

Exxon Mobil (XOM) and Shell (SHEL) have both revealed that their production levels in the first quarter were negatively impacted by the ongoing Iran war. This follows Shell's previous downward revision of its 2026 integrated gas production guidance due to disruptions in Qatari export volumes. The conflict has now been explicitly identified as the 'Iran war,' serving as the primary cause for physical restrictions on LNG flows through the Strait of Hormuz and facilities at Ras Laffan. The inclusion of Exxon Mobil highlights the broadening operational and financial toll that regional instability is taking on global energy giants. This update provides a concrete quantification of the expected impact on current earnings and future output projections for the sector. Investors remain focused on the global natural gas (NATGAS) market as supply chain disruptions persist amid the escalating geopolitical environment.