US stock futures soar on hopes that Congress is moving towards a huge fiscal stimulus package. Follow live updates:
) oil production targets in the Permian Basin by 20%. The company had previously been rapidly growing output in the epicenter of America's shale oil boom.. That's after the company repurchased $1.75 billion of shares during the first quarter -- at comparatively inflated prices.Chevron's stock has plummeted 55% so far this year.S&P Global Ratings dimmed its outlook on Chevron to negative on Monday, citing the"for oil companies.
"With an industry leading balance sheet and a flexible capital program, we believe Chevron is resilient and positioned to withstand this challenging environment,” Chevron CEO Michael Wirth said in a statement.
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