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Chevron's Profits Quadrupled Despite 1 Surprising Issue. Is the Oil Stock Still a Buy?

·4 min read

Chevron (NYSE: CVX) reported earnings of $11.6 billion in the second quarter -- more than four times what it delivered in the prior-year period. In one of the best refining markets in years, volumes in Chevron's refining business were down 8%. As an integrated oil company, Chevron operates upstream oil and gas production assets and downstream refining and chemicals operations.