Exxon and Chevron, Buoyed by High Oil Prices, Shower Investors With Cash

Massive oil firms are persevering with to reap the advantages of excessive commodity costs however aren’t backing off plans to reward traders whereas conserving manufacturing roughly flat.

Exxon Mobil Corp. mentioned Friday it collected $5.5 billion in first-quarter revenue, greater than double the identical interval final 12 months. The U.S. oil large mentioned it will triple its share repurchases, however will preserve oil-field spending at a modest tempo.

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