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When Meg O’Neill takes over BP on April 1, Big Oil’s first female CEO will benefit from a war-driven surge in prices — but inherit a tough cleanup job.

Exxon Mobil, Chevron, Shell, BP and TotalEnergies will likely grow output 4.7% in 2026. The increases appear designed to capitalize on an expected oil price upturn in the latter half of 2026.

John Hess is talking to directly with shareholders in a last-ditch effort to ensure enough support for a $53 billion takeover by Chevron Corp., according to people familiar with the matter.