U.S. Markets closed

Chevron quarterly profit jumps 13 percent

Oct 31 (Reuters) - Chevron Corp said on Friday its quarterly profit rose 13 percent as lower crude oil prices boosted its refinery operations, helping to offset sagging results in its oil and gas production.

The company posted net income of $5.59 billion, or $2.95 per share, compared with $4.95 billion, or $2.57 per share, in the year-ago period.

Production fell nearly 1 percent to 2.57 million barrels of oil equivalent per day as new wells failed to offset declines at old wells.

(Reporting by Ernest Scheyder)