Exxon posted full-year net income of $36bn, down from $55.7bn the previous year, but otherwise its biggest profit since 2012.
Chevron’s net income of $21.4bn was down from $35.5bn the previous year, but otherwise its strongest since 2013.
Exxon’s chief financial officer Kathryn Mikells hailed a “great end to a great year”.
The US pumped 13.3mn barrels of oil a day in November, the last month for which data is available from the Energy Information Administration, more than any country in history.