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Chevron Predicts Higher Profits Despite Lower Output

Posted on October 13, 2008

Chevron Corp. (CVX), the focus of Money Morning s Buy, Sell or Hold? feature back in late July, said it's predicting a jump in its third-quarter results, despite a decline in oil-and-gas output. Without offering actual financial details, the second-biggest U.S. oil company said in its interim update that it expects third-quarter earnings to exceed those of 2008 s second quarter. The San Ramon, Calif.-based Chevron attributed the improved results to higher energy prices and better refining margins - both factors that were predicted by Money Morning Contributing Editor Horaci...

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earnings , gas , oil , output