Big Oil Companies Lose Billions, Prepare for Prolonged Pandemic

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Although demand and commodity prices have shown signs of recovery, Chevron said they aren’t back to pre-Covid levels, and warned its results could continue to be depressed through the third quarter

Exxon Mobil Corp. posted its second consecutive quarterly loss for the first time this century on Friday, reporting a loss of $1.1 billion, compared with a profit of $3.

1 billion a year ago. Exxon, the largest U.S. oil company, had not reported back-to-back losses for at least 22 years, according to Dow Jones Market Data, whose figures...

 

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