Chevron Turns a Dollar Into $325 Million Windfall Amid Oil Rally
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For Chevron Corp., every ripple in the global crude oil market makes a major splash.
The 15 percent jump in the price of crude this quarter represents a $2.8 billion windfall. That’s because every time the average quarterly price of Brent -- the benchmark for most international oil sales -- increases by a dollar, Chevron scoops up an extra $325 million to $350 million in cash beyond certain expenses.