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Chevron Beats Earnings Forecasts as High Oil Prices and Record US Refining Margins Lift Results

By ChordNews · First written (new coverage , updated )

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Summary

Chevron Corp. surpassed analysts' estimates as high oil prices combined with record US refining margins to lift its earnings to the fourth-highest level in company history, according to Bloomberg. CNBC reported that Chevron beat earnings expectations as refining profits soared on high diesel fuel prices, which it said have surged globally after Ukraine and Iran struck refineries in Russia and the Middle East.

This continues an earlier story: Shell Profit Nearly Doubles to $10.8 Billion as Refining Margins Hit Record; Buyback Raised to $5 Billion

Later: Suncor Energy Tops Profit Estimates on Higher Oil Prices and Margins

Timeline

  1. Bloomberg

    Source ↗

    Bloomberg reports that Chevron Corp. surpassed analysts' estimates as high oil prices and record US refining margins lifted earnings to the fourth-highest level in company history.

  2. CNBC

    Source ↗

    CNBC reports that Chevron beat earnings expectations as refining profits soared on high diesel fuel prices, which have surged globally after Ukraine and Iran struck refineries in Russia and the Middle East.

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