Chevron Doubles Profit as Record Production Meets Oil Recovery

Chevron Corp. reported third-quarter profit doubled from a year earlier as production increases met rising oil prices. The company reported earnings of $4 billion compared to $2 billion in the third quarter of 2017. Oil and gas output climbed to 2.96 million barrels per day, a record.Chevron is the last of the major oil companies to release results for the third quarter. BP, Shell and Total have all reported earnings that beat estimates. Exxon rose this morning after beating estimates. Chevron has a higher analyst percentage buy rating than BP Plc, Royal Dutch Shell Plc and Total SA at almost 68 percent, and, remarkably, no sell recommendations. But share performance has been worse than all its majors rivals this year, declining 11 percent even as Brent climbed 9 percent
 

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Good from them

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The big oil beasts are back, not just Chevron. Exxon Mobil Corp. and Chevron reported their highest third-quarter profits in four years as the world’s largest oil companies appeared to have finally shaken off the burden of a yearslong oil price crash.Exxon’s net income rose 57% to $6.24 billion as improved operations helped the company reap the benefits of higher prices for drilling and better refining margins

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Oil market bigger than all metals combined!! Black gold... 

image.png.009bdd58e2296de7795bb4e0aa39d238.png

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This infographic is explaining why the fossil fuel industry will keep being relevant in the next decades

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Hope soon will come a day  $1.50 per gallon✔️

 

image.png.e9d2eea8e3501f9dbbbe2a70457c760c.png

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8 hours ago, ThunderBlade said:

 

Oil market bigger than all metals combined!! Black gold... 

image.png.009bdd58e2296de7795bb4e0aa39d238.png

And that doesn't include related natural gas and other associated gases that add more profits. 

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7 hours ago, rainman said:

Hope soon will come a day  $1.50 per gallon✔️

 

image.png.e9d2eea8e3501f9dbbbe2a70457c760c.png

I would settle for double those prices. 

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