Chevron stock falls as profit declines on falling oil prices

Core Insights - Chevron's net income fell over 30% to $3.5 billion, or $2 per share, compared to $5.5 billion, or $2.97 per share, in the previous year [1] - U.S. crude oil prices have decreased approximately 18% this year, influenced by tariffs and increased supply from OPEC+ [2] - Chevron's global production increased by 4% to 1.6 million barrels per day from 1.57 million bpd in the same quarter last year [2] Financial Performance - Adjusted earnings per share were reported at $2.18, while revenue was $47.61 billion, slightly below the expected $48.09 billion [5] - Capital expenditures decreased by about 5% to $3.9 billion from $4.1 billion a year ago [3] - The company returned $6.9 billion to shareholders, which included $3 billion in dividends and $3.9 billion in share repurchases [3]