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Chevron stock falls as profit declines on falling oil prices

1. Chevron's profit fell over 30% to $3.5 billion. 2. U.S. crude prices dropped 18% this year. 3. Chevron’s capital expenditures decreased to $3.9 billion. 4. Global production rose 4% to 1.6 million barrels per day. 5. Shareholder returns included $3 billion in dividends.

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FAQ

Why Bearish?

A significant drop in Chevron’s profit reflects broader weaknesses in oil prices, potentially affecting BNO.

How important is it?

The profitability of oil majors like Chevron indicates broader market trends affecting Brent crude, impacting BNO.

Why Short Term?

Current oil market conditions and profit reports could lead to immediate negative effects on BNO performance.

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