Multinational oil giants Chevron and
Chevron reported a second consecutive quarterly loss after revenue fell by 32% year-over-year, while
"Third quarter results were down from a year ago, primarily due to lower commodity prices and margins resulting from the impact of COVID-19," Chevron Chairman and CEO
"The world's economy continues to operate below pre-pandemic levels, impacting demand for our products which are closely linked to economic activity."
"We remain confident in our long-term strategy and the fundamentals of our business, and are taking the necessary actions to preserve value while protecting the balance sheet and dividend," Exxon Chairman and CEO
Exxon said Thursday it will lay off almost 2,000 workers to help rein in costs.
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