TotalEnergies Warns of Hit From Lower Oil, Gas Prices

By Adam Whittaker

TotalEnergies warned lower oil and gas prices will hit its second-quarter earnings, but said it expects a small increase in hydrocarbon production.

The French energy company said Wednesday in a trading update that it expects hydrocarbon production in the second quarter to be around 2.5% higher than the 2.44 million oil-equivalent barrels a day it produced in the same period a year prior.

However, over the quarter, the average price a barrel for its products fell to $65.6 from $72.2 in the first quarter. Earnings from its exploration and production division are therefore expected to reflect the around $7 dollar decrease in prices, the company said.

The warning follows a volatile quarter for prices, driven by a shift in OPEC+ policy, uncertainty over U.S. tariffs and escalating tensions in the Middle East.

European peer BP warned last week that weaker prices would hit earnings. Brent crude fell sharply early in the quarter after sweeping U.S. tariffs stoked fears of a global economic slowdown. Prices briefly rebounded later in the quarter on concerns over supply disruptions when tensions between Israel and Iran flared up, but the rally quickly lost momentum.

Write to Adam Whittaker at [e-mail]

Corrections & Amplifications

This article was corrected at 06:58 a.m. ET to clarify TotalEnergies said it expects hydrocarbon production in the second quarter to be around 2.5% higher than the 2.44 million oil-equivalent barrels a day it produced in the same period a year prior. An earlier article misstated the metric.

(END) Dow Jones Newswires

07-16-25 0514ET