Chevron reports $8.3b Q2 loss due to weak oil prices

New York – Chevron reported a hefty loss Friday as the weakened economic outlook due to the coronavirus pandemic slashed the value of assets on expectations that commodity prices will stay down longer.

The US oil giant reported a loss of $8.3 billion in the second quarter, joining the growing group of petroleum companies to suffer losses.

Chevron reported profits of $4.3 billion (3.6 billion euros) in the year-ago period.

Article source: https://nation.com.pk/01-Aug-2020/chevron-reports-dollar-8-3b-q2-loss-due-to-weak-oil-prices