Repsol Posts Mixed 1Q26 Operating Picture Amid Higher Oil Prices and Lower Refining Utilization

Repsol ( (REPYY) ) just unveiled an update.

Repsol’s provisional trading statement for the first quarter of 2026 shows stable overall hydrocarbon production at 539 thousand barrels of oil equivalent per day, although consolidated volumes declined in North and Latin America, partly due to a third‑party pipeline incident in Peru that disrupted gas liquids flows and prompted a national gas supply emergency. The company benefited from higher Brent and WTI prices versus late 2025 and stronger refining margins year on year, but faced lower utilization rates at its Spanish refineries and weaker chemical margins, underscoring a mixed operating environment ahead of full results due at the end of April.

Benchmark crude prices and U.S. gas markers rose sharply compared with the prior quarter, while European gas and Spanish power prices fell, shaping Repsol’s earnings backdrop across its upstream and industrial segments. Equity‑accounted production increased, particularly in Latin America and other international regions, highlighting the growing contribution of joint ventures even as company‑operated output softened and industrial plants ran below prior‑period capacity levels.

The most recent analyst rating on (REPYY) stock is a Buy with a $32.00 price target. To see the full list of analyst forecasts on Repsol stock, see the REPYY Stock Forecast page.

More about Repsol

Repsol is an integrated global energy company active in exploration and production, refining, chemicals and related industrial businesses. The group has a significant footprint in North America, Latin America, Europe and other regions, with operations spanning oil and gas production, refining and electricity, and is sensitive to shifts in crude benchmarks and regional energy prices.

Average Trading Volume: 137,900

Technical Sentiment Signal: Buy

Current Market Cap: $29.33B

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