Chevrons earnings dropped 90 from a year ago. Exxons earnings were cut in half. And these two dow components saw their stock prices take a hit. Chevron was off nearly 5 . Exxon sank 4. 5 . And today crude prices continued their tumble, settling down nearly 3 to 47. 12. The commodity is now down 21 this month. Its worst month since october of 2008. And that was the heart of the financial crisis. Jackie deangelis has more now on the pain in the oil patch. Reporter when big oil speaks, investors listen. What was said today was not encouraging. Exxon mobil reporting its worst quarterly profit in nearly 13 years. And chevron seeing its profits plunge, triggered by impairments and charges, based on lower oil prices. Exxon noted that higher profit in refining couldnt offset losses in its upstream businesses. Thats the exploration and production side of things. Exxon making a move to conserve cash confined to the market but it doesnt expect to see a quick rebound in crude prices. The Company P
Chevrons earnings dropped 90 from a year ago. Exxons earnings were cut in half. And these two dow components saw their stock prices take a hit. Chevron was off nearly 5 . Exxon sank 4. 5 . And today crude prices continued their tumble settling down nearly 3 to 47. 12. The commodity is now down 21 this month. Its worst month since october of 2008. And that was the heart of the financial crisis. Jackie deangelis has more now on the pain in the oil patch. Reporter when big oil speaks, investors listen. What was said today was not encouraging. Exxon mobil reporting its worst quarterly profit in nearly 13 years. And chevron seeing its profits plunge triggered by impairments and charges, based on lower oil prices. Exxon noted that higher profit in refining couldnt offset losses in its upstream businesses. Thats the exploration and production side of things. Exxon making a move to conserve cash confined to the market but it doesnt expect to see a quick rebound in crude prices. The Company Pla
Chevrons earnings dropped 90 from a year ago. Exxons earnings were cut in half. And these two dow components saw their stock prices take a hit. Chevron was off nearly 5 . Exxon sank 4. 5 . And today crude prices continued their tumble settling down nearly 3 to 47. 12. The commodity is now down 21 this month. Its worst month since october of 2008. And that was the heart of the financial crisis. Jackie deangelis has more now on the pain in the oil patch. Reporter when big oil speaks, investors listen. What was said today was not encouraging. Exxon mobil reporting its worst quarterly profit in nearly 13 years. And chevron seeing its profits plunge triggered by impairments and charges, based on lower oil prices. Exxon noted that higher profit in refining couldnt offset losses in its upstream businesses. Thats the exploration and production side of things. Exxon making a move to conserve cash confined to the market but it doesnt expect to see a quick rebound in crude prices. The Company Pla