Chevron's First Quarter Production Increased Despite Declining Profits Amid Oil Price Rise
Chevron's first-quarter production rose 15% to 3.9 million barrels of oil equivalent per day, but its adjusted earnings fell to $1.41 per share from $3 billion in the fourth quarter and $3.8 billion in the prior year. The decline in profits was attributed to supply disruptions and timing issues, despite higher oil prices.
Tickers: $CVX
Topics: Chevron Earnings Oil Prices Production Supply Disruptions