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Chevron's Second Quarter Profit Beats Outlook on Record Shale Production - Barron's

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Chevron's Second Quarter Profit Beats Outlook on Record Shale Production | Barron's

Chevron’s Second Quarter Profit Beats Outlook on Record Shale Production

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Chevron said it had record production in the shale-rich Permian Basin region in the second quarter. Patrick T. Fallon/AFP via Getty Images

Chevron released a second-quarter performance update on Sunday that was better than expected ahead of the oil major’s earnings announcement this week.

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Related Knowledge Center: ENERGY BASICS: petroleum

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While electric-powered vehicles may be the ride of the future, oil remains at least for now the dominant fuel for transportation around the world. And after a period of time at the end of the 20th century when oil was subject to wide fluctuations in price, new supplies in North America as a result of non-conventional recovery techniques have helped stabilize prices.

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