Chevron Beats 1Q Earnings Estimates on Cuts to Operating Expenses

The transcript discusses the recent earnings reports of Chevron and Exxon, highlighting weaknesses in production and downstream operations. Exxon's earnings per share fell short of estimates, with significant losses in refining and chemicals. Despite a rally in oil prices, the benefits are expected to be delayed. Attention is now on upcoming earnings calls, particularly Chevron's, with a focus on M&A activities involving Occidental Petroleum's bid for Anadarko.

What was Exxon's earnings per share compared to the estimate?

What were the main issues affecting the net income of the companies discussed?

How much did oil prices increase since the Christmas Eve low?

What is the significance of the earnings calls for Chevron and Exxon?

What was Occidental Petroleum's recent action regarding Anadarko?