Home / Tag Archives: chevron (page 3)

Tag Archives: chevron

Global stock markets, oil price turn lower

Global stock markets, oil price turn lower

NEW YORK (AP) — U.S. stocks are opening lower as another drop in the price of oil and some weak corporate earnings got trading off to a gloomy start. Oil companies sank along with the price of crude early Friday. Chevron fell 1 percent. Several companies were also falling after releasing weak earnings or outlooks. Deere & Co. and Nordstrom ...

Read More »

Oil industry cutting jobs, investment to offset lower prices

Oil companies are cutting investment, slashing jobs and selling off pipelines and other assets as crude prices plunge. “It’s going to be a very turbulent year for our industry,” says BP CEO Bob Dudley. The latest warnings came from Exxon Mobil, which reported Tuesday that fourth-quarter earnings fell 58 percent in the oil giant’s weakest quarter since 2002. The results ...

Read More »

Falling oil prices push Chevron to first loss since 2002

FILE - This Aug. 20, 2012, file photo, shows a Chevron sign in Miami. Chevron Corp. reports financial earnings on Friday, Jan. 29, 2016. (AP Photo/Alan Diaz)

DALLAS — Chevron suffered its first money-losing quarter since 2002 in the final three months of last year, as plunging crude prices chopped more than one-third from its revenue. Oil traded this month at levels not seen since 2003, although it has rebounded slightly in the last few days. Cheaper energy is great for consumers, who save with every fill-up, ...

Read More »

Cheaper oil buoys consumers, hammers producers

DALLAS — Oil prices have been lower for longer than expected. Now, with OPEC’s decision to keep pumping at current levels, analysts expect oil to remain relatively cheap well into 2016 and maybe longer. That, of course, is good news for consumers and fuel-guzzling industries like airlines, but oil producers are being squeezed and thousands of workers in the oil ...

Read More »