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Transcripts For KQED Nightly Business Report 20240622

Chevrons earnings dropped 90 from a year ago. Exxons earnings were cut in half. And these two dow components saw their stock prices take a hit. Chevron was off nearly 5 . Exxon sank 4. 5 . And today crude prices continued their tumble, settling down nearly 3 to 47. 12. The commodity is now down 21 this month. Its worst month since october of 2008. And that was the heart of the financial crisis. Jackie deangelis has more now on the pain in the oil patch. Reporter when big oil speaks, investors listen. What was said today was not encouraging. Exxon mobil reporting its worst quarterly profit in nearly 13 years. And chevron seeing its profits plunge, triggered by impairments and charges, based on lower oil prices. Exxon noted that higher profit in refining couldnt offset losses in its upstream businesses. Thats the exploration and production side of things. Exxon making a move to conserve cash confined to the market but it doesnt expect to see a quick rebound in crude prices. The
New York , United States , United Arab Emirates , Wellesley College , District Of Columbia , San Francisco , United Kingdom , Puerto Rico , Hong Kong , Capitol Hill , Dominic Chu , Conoco Phillips , Jcpenney Marv Ellison , Ryan Lance , Kate Rogers , Lebron James , John Watson , Jackie Deangelis , Courtney Reagan , Marvin Ellison , Jay Kaplan , Bob Pisani , Ron Johnson , Mike Ullman , Stock Prices , Pain Oil ,

Transcripts For KQED Nightly Business Report 20240622

Chevrons earnings dropped 90 from a year ago. Exxons earnings were cut in half. And these two dow components saw their stock prices take a hit. Chevron was off nearly 5 . Exxon sank 4. 5 . And today crude prices continued their tumble settling down nearly 3 to 47. 12. The commodity is now down 21 this month. Its worst month since october of 2008. And that was the heart of the financial crisis. Jackie deangelis has more now on the pain in the oil patch. Reporter when big oil speaks, investors listen. What was said today was not encouraging. Exxon mobil reporting its worst quarterly profit in nearly 13 years. And chevron seeing its profits plunge triggered by impairments and charges, based on lower oil prices. Exxon noted that higher profit in refining couldnt offset losses in its upstream businesses. Thats the exploration and production side of things. Exxon making a move to conserve cash confined to the market but it doesnt expect to see a quick rebound in crude prices. The
New York , United States , United Arab Emirates , Wellesley College , District Of Columbia , San Francisco , United Kingdom , Puerto Rico , Hong Kong , Capitol Hill , Dominic Chu , Conoco Phillips , Jcpenney Marv Ellison , Ryan Lance , Kate Rogers , Lebron James , John Watson , Jackie Deangelis , Courtney Reagan , Marvin Ellison , Jay Kaplan , Bob Pisani , Ron Johnson , Mike Ullman , Stock Prices , Pain Oil ,

Transcripts For KQEH Nightly Business Report 20240622

Chevrons earnings dropped 90 from a year ago. Exxons earnings were cut in half. And these two dow components saw their stock prices take a hit. Chevron was off nearly 5 . Exxon sank 4. 5 . And today crude prices continued their tumble settling down nearly 3 to 47. 12. The commodity is now down 21 this month. Its worst month since october of 2008. And that was the heart of the financial crisis. Jackie deangelis has more now on the pain in the oil patch. Reporter when big oil speaks, investors listen. What was said today was not encouraging. Exxon mobil reporting its worst quarterly profit in nearly 13 years. And chevron seeing its profits plunge triggered by impairments and charges, based on lower oil prices. Exxon noted that higher profit in refining couldnt offset losses in its upstream businesses. Thats the exploration and production side of things. Exxon making a move to conserve cash confined to the market but it doesnt expect to see a quick rebound in crude prices. The
New York , United States , United Arab Emirates , Wellesley College , San Francisco , United Kingdom , Puerto Rico , Hong Kong , Dominic Chu , Don Maddox , Conoco Phillips , Ryan Lance , Kate Rogers , Lebron James , Gloria Wakefield , Jackie Deangelis , Courtney Reagan , Jay Kaplan , Bob Pisani , Ron Johnson , Jcpenney Marv Ellison , Eva Roderick , John Watson , Marvin Ellison , Mike Ullman , Stock Prices ,