31.07.2015 - Chevron has significantly deteriorated financial performance
Shares of oil company Chevron will soon fall on weak corporate reports for the second quarter of this year. Net income fell to 571 million dollars against 5.67 billion for the same period of the last year due to lower oil prices in the world. Revenue fell to 36.83 billion dollars against 55.58 last year. It should be noted that the potential for further reduction in price of oil has dropped, which gives hope for the resumption of growth in financial performance in future periods. We expect a continuation of the downward dynamics of quotations by 15-18% per annum in the medium term.