Chevron Profits Fall, Despite High Downstream Refinery Gains

Chevron Corporation (NYSE:CVX), the second largest American oil company, posted a 7 percent dip in quarterly profit in its earnings release today, amid widespread weakening of oil prices on a year-over-year basis. During the second-quarter, its income fell to $7.2 billion. Nonetheless, the otherwise bearish situation was salvaged by remarkable refining margins (downstream).

While Chevron Corporation (NYSE:CVX)'s earnings are not all that dependent . . .

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