Bumper Earnings at ExxonMobil, Chevron Boosted By US Oil Production

Key TakeawaysExxonMobil and Chevron reported their second-largest profits in a decade on Friday despite a fall in oil prices as strong U.S. oil production boosted revenue.Both companies took a hit from lower oil and gas prices, as well as impairment charges for California assets.U.S. production was a big driver of profit and both companies could have another strong year for production when their 2023 acquisitions close.Energy giants ExxonMobil (XOM) and Chevron (CVX) reported their second-largest annual pro ...