(Bloomberg) — Exxon Mobil Corp. posted its first loss in at least three decades and Chevron Corp. slashed $2 billion off its spending plan, the latest concrete signs of the financial devastation the coronavirus pandemic will inflict on the oil giants for months, if not years, to come.Exxon reported a $610 million loss on Friday, the oil giant’s first since at least 1988, and said it’s shutting hundreds of thousands of barrels of daily output. Meanwhile, Chevron slashed capital spending for the second time in five weeks and accelerated supply curbs.The results are precursors of even starker figures to come …read more
Source:: Yahoo Finance
