Chevron Swings Back To Profit in Q1

Higher oil prices, slashed expenditure, and proceeds from asset sales helped Chevron Corporation (NYSE:CVX) to return to a first-quarter profit, easily beating analyst estimates. The oil giant is the second major player in the industry today to report favorable results for the quarter, with WTI trading up .29 percent on the day. Chevron reported shortly before opening bell on Friday (and shortly after Exxon’s Q1 report) earnings of US$2.7 billion for the first quarter, compared with a loss of US$725 million for the same period of 2016.…

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