Chevron Q4 profit surges to $5.3bn

Chevron Corporation's fourth-quarter profit rose to $5.3 billion from $3.1 billion the previous year easily topping Wall Street forecasts, but anaemic growth of its oil reserves disappointed investors.
Chevron, like smaller rivals ConocoPhillips and Occidental Petroleum, saw its earnings bolstered by higher oil prices, as well as a rebound in profit margins for petrol and diesel fuel.
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Source: Trade Arabia