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AFP
New York
US oil giants ExxonMobil and Chevron have reported another quarter of red ink as uncertainty over oil demand dented by the coronavirus forced the petroleum sector to rein in spending.
While both companies were hit by low commodity prices, driven the worldwide business and travel shutdowns, ExxonMobil had the bigger loss and again faced tough questions from investors over its strategy as shares tumbled.
The reports came a day after ExxonMobil announced it was cutting 1,900 US jobs, part of a plan to reduce global headcount by about 15 percent through 2022.
New York
US oil giants ExxonMobil and Chevron have reported another quarter of red ink as uncertainty over oil demand dented by the coronavirus forced the petroleum sector to rein in spending.
While both companies were hit by low commodity prices, driven the worldwide business and travel shutdowns, ExxonMobil had the bigger loss and again faced tough questions from investors over its strategy as shares tumbled.
The reports came a day after ExxonMobil announced it was cutting 1,900 US jobs, part of a plan to reduce global headcount by about 15 percent through 2022.
