Energy

Chevron (CVX) earnings Q1 2022

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The Chevron logo is displayed as a tanker truck enters the Chevron Products Company El Segundo Refinery on January 26, 2022 in El Segundo, California.

Patrick T. Fallon | AFP | Getty Images

Chevron‘s profit more than quadrupled during the first quarter of 2022, as higher oil and gas prices boosted the company’s results.

The oil giant reported $6.3 billion in earnings during the period up from $1.37 billion during the same quarter in 2021.

Chevron’s revenue rose to $54.37 billion, up from $32.03 billion during the first quarter of 2021.

Chevron’s results follow a surge in commodity prices.

West Texas Intermediate crude futures spiked to $130.50 in early March, a price last seen in 2008 as…



Source cnbc.com

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