Profit for the biggest U.S. oil companies declined in 1st quarter – but only on paper
PBS
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With energy prices depressed at the start of the year, Exxon Mobil and Chevron had arranged hedges to offset volatility, a standard practice in the industry.
Exxon and Chevron beat estimates
- Exxon, Chevron Beat Earnings Estimates as Oil Prices Surge Bloomberg —
- Chevron Blows Away Estimates on War-Driven Surge in Oil Prices Bloomberg —
- Exxon beats earnings estimate despite hit from Iran war The Globe and Mail —
- Exxon beats first-quarter earnings estimate despite hit from Iran conflict - Reuters Reuters —
- Exxon Mobil, Chevron earnings fall, but top revenue expectations CBS News —