Morning News Leader: Chevron (CVX) Stock Rises as Production Concerns Push Oil Higher
Chevron Corporation (CVX) is up 0.3% Tuesday morning. The stock is moving higher in reaction to rising oil prices. Crude is up 0.9% to $57.28 a barrel, up $0.49. Oil prices are moving higher on news that Saudi Arabia plans to produce less than 10 million barrels per day in April. Fellow OPEC nation Venezuela is seeing output shrink as power outages in the nation have shut down wells.
Chevron Corporation (CVX) is a diversified oil and gas company.
Stitch Fix, Inc. (SFIX) and Momo Inc. (MOMO) top the list of other companies with positive news today, while ADT Inc. (ADT) and Dick’s Sporting Goods, Inc. (DKS) top the list of companies with negative news.
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About Chevron Corporation
Chevron is an integrated energy company with exploration, production, and refining operations worldwide. Chevron is the second-largest oil company in the United States with production of 2.9 million of barrels of oil equivalent a day, including 6.9 million cubic feet a day of natural gas and 1.8 million of barrels of liquids a day. Production activities take place in North America, South America, Europe, Africa, Asia, and Australia. Its refineries are in the United States, South Africa, and Asia for total refining capacity of 1.6 million barrels of oil a day. Proven reserves at year-end 2018 stood at 12.1 billion barrels of oil equivalent, including 6.8 billion barrels of liquids and 31.6 trillion cubic feet of natural gas.