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Chevron reports Q1 profit of $5B, up 16% from US oil production growth.
Oil giant Chevron reported a first-quarter profit of $5 billion, beating estimates as higher US oil production offset the impact of lower natural gas prices and fuel margins.
The company's profit fell 16% from a year ago, but its adjusted profit of $2.93 per share exceeded Wall Street's expectations.
Chevron's US production increased by 35% year-over-year, driving growth despite challenging market conditions.
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Chevron informa ganancias de 5 mil millones de dólares en el primer trimestre, un 16 % más que el crecimiento de la producción de petróleo en Estados Unidos.