Chevron Extends Losses as Reeling Prices Prompt Writedown

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  • No. 3 oil explorer loses money for third straight quarter
  • Production from wells fails to match analysts’ estimates

What Went Wrong for Big Oil This Quarter?

Chevron Corp. extended its longest losing streak in more than a quarter century, missing profit and production expectations as a glut-driven price collapse forced a writedown of the value of oil and natural wells.

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