Higher Oil Output Helps Chevron Beat Q1 Profit Estimates

Chevron Corporation (NYSE: CVX) booked slightly higher earnings for the first quarter than analysts had expected, thanks to higher oil and gas production that offset part of the weaker refined product margins and low natural gas prices. Chevron reported on Friday earnings of $5.5 billion, or $2.97 per share, for the first quarter of 2024, down from $6.6 billion, or $3.46 per share, for the first quarter last year.   Analysts had expected earnings per share of $2.92 for January to March 2024. The annual drop in Q1 earnings…