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ExxonMobil, Chevron report huge second quarter losses

ExxonMobil and Chevron both reported huge losses for the second quarter that were even worse than what Wall Street was expecting.
 
Exxon lost $1.1 billion, the company's second straight quarterly loss, while Chevron posted a loss of $8.3 billion.
 
Shares of the companies were each lower in early trading on Friday after announcing the results. 
 
The coronavirus crisis has decimated demand for oil this year. 
 


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